Rightmove’s weekly mortgage tracker 18/10/23

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Headline stats 

  • The average 5-year fixed mortgage rate is now 5.42%, down from 6.08% a year ago
  • The average 2-year fixed mortgage rate is now 5.88%, down from 6.32% a year ago
  • The average 85% LTV 5-year fixed mortgage rate is now 5.49%, down from 6.15% a year ago
  • The average 60% LTV 5-year fixed mortgage rate is now 4.98%, down from 5.80% a year ago
  • The average monthly mortgage payment on a typical first-time buyer type property when taking out an average five-year fixed, 85% LTV mortgage, is now £1,169 per month, down from £1,248 per month a year ago

 

Latest rates data

 

LTV

(loan to value)

 

Term

 

Average rate 17th October 2023 Lowest rate 17th October 2023 Average rate

a year ago

 

95%

 

2 year fixed 6.32% 6.04% 6.61%
 

95%

 

5 year fixed 5.80% 5.62% 6.18%
 

90%

 

2 year fixed 6.15% 5.74% 6.45%
 

90%

 

5 year fixed 5.62% 5.20% 6.27%

 

 

 

LTV (loan to value)

 

Term

Average rate 17th October 2023 Lowest rate 17th October 2023 Average rate

a year ago

 

85%

 

2 year fixed  

6.03%

 

5.66%

6.33%
 

85%

 

 

5 year fixed

 

 

5.49%

 

5.06%

6.15%
 

75%

 

 

2 year fixed

 

5.64%

 

5.29%

6.17%
 

75%

 

 

5 year fixed

 

5.22% 4.77% 5.97%
 

60%

 

 

2 year fixed

 

5.44% 5.24% 6.12%
 

60%

 

 

5 year fixed

4.98% 4.68% 5.80%

 

Rightmove can provide average monthly mortgage payments based on the latest available asking price and mortgage rate data. For example, the average monthly mortgage payment on a first-time buyer type property which is currently £224,263, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,169 per month if repaying over 25 years, compared with £1,248 per month a year ago.

Rightmove

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

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