Rightmove’s weekly mortgage tracker – 16/01/25

January 16, 2025
Rightmove logo

Average mortgage rates drop despite mixed economic news

 

Commenting on the drop in average rates this week, Rightmove’s mortgage expert Matt Smith says: “Despite all of the economic news we’ve had this week, average rates have fallen. It shows that despite the challenges affecting the mortgage market at the moment, lenders are keen to maximise the busy buying period and offer as low rates as possible. It’s also important to note that the biggest drops we’ve seen are in the mass-market, for those with a smaller deposit of around 10-15%. Things are moving quite quickly day to day at the moment, but the anticipated rate cut in early February will be an important milestone to get to this year.”

 

Average rates for 2-year and 5-year fixed-rate mortgages

 

Term Average rate Weekly change Yearly change
2-year fixed 4.97% -0.05% -0.10%
5-year fixed 4.75% -0.04% -0.03%

 

Term Lowest rate Weekly change Yearly change
2-year fixed 4.20% +0.00% +0.10%
5-year fixed 4.07% +0.00% +0.19%

 

Average fixed-term mortgage rates for home-buyers with 5-10% deposits

 

Loan to Value (LTV) Term Avg rate
09 Jan 2025		 Avg rate
16 Jan 2025		 Weekly Change Yearly Change
95% 2-year-fixed 5.63% 5.68% +0.05% -0.07%
95% 5-year-fixed 5.35% 5.36% +0.01% +0.06%
90% 2-year-fixed 5.44% 5.36% -0.08% +0.06%
90% 5-year-fixed 5.02% 4.97% -0.05% +0.11%

 

Average fixed-term mortgage rates for home-buyers with 15-25% deposits

 

Loan to Value (LTV) Term Avg rate
09 Jan 2025		 Avg rate
16 Jan 2025		 Weekly Change Yearly Change
85% 2-year-fixed 5.08% 4.91% -0.17% -0.21%
85% 5-year-fixed 4.83% 4.69% -0.14% -0.11%
75% 2-year-fixed 4.77% 4.75% -0.02% -0.13%
75% 5-year-fixed 4.63% 4.61% -0.02% -0.10%

 

Average fixed-term mortgage rates for home-buyers with 40% deposits

 

Loan to Value (LTV) Term Avg rate
09 Jan 2025		 Avg rate
16 Jan 2025		 Weekly Change Yearly Change
60% 2-year-fixed 4.32% 4.36% +0.04% -0.03%
60% 5-year-fixed 4.22% 4.26% +0.04% +0.11%

 

These rates are provided by Podium and are an average based on 95% of the mortgage market. All rates are based on products with a circa £999 fee.

Rightmove

UK Property news updates shared directly from Rightmove PLC - the country's leading property portal.

You May Also Enjoy

Estate Agent Talk

Buy-to-Let Explained: How It Works and Is It Worth It?

Buy-to-let is one of the most popular property investment strategies in the UK, attracting investors who want to generate regular rental income while benefiting from long-term property value growth. Whether you are a first-time landlord or someone considering adding property to an existing investment portfolio, understanding how buy-to-let works is essential. If you are exploring opportunities with Whitegates…
Read More →
Letting Agent Talk

The Hidden Cost of Deposit Disputes for Letting Agents

Nobody gets into lettings because they love arguing over oven grease. Yet for a growing number of letting agents across London and beyond, deposit disputes at the end of a tenancy have become one of the most quietly destructive parts of the job — eating into time, draining morale, and slowly eroding the trust that…
Read More →
Breaking News

Britain’s strongest housing markets revealed

The latest research from Benham and Reeves reveals the best-performing housing markets across Great Britain when it comes to the average rate of house price growth seen over the course of 2025, with the northern regions and Scotland outperforming most of the rest of the country with annual price growth of up to 11%. Last…
Read More →
Rightmove logo
Breaking News

Over £900 million economic opportunity lost to property fall throughs

Analysis from the UK’s largest property platform Rightmove reveals there is an economic opportunity of over £900 million in England if the number of property transactions falling through can be reduced The calculations show that nearly £392m in potential estate agency revenue and £515m in potential government stamp duty receipts were lost last year to…
Read More →
Breaking News

Landlords chasing rental arrears of £470m

The latest research from Propoly – the platform that automates compliance, reduces risk and protects landlords – has revealed that landlords in England deal with more than £470 million worth of rent arrears in a year, with the largest number of tenants in arrears found in London and the North East. Propoly has analysed the…
Read More →
Estate Agent Talk

Building Buyer Trust Through Architectural Visualization in Real Estate Marketing

In real estate marketing, trust is not a soft value. It is a transaction driver. Buyers commit to years of financial exposure based on how credible a project feels long before it is built. That credibility is no longer shaped by brochures alone. Today, developers often work with a rendering agency to construct a visual…
Read More →