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

January 16, 2025
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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.

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