Rightmove’s weekly mortgage tracker – 21/02/24

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Headlines

  • The average 5-year fixed mortgage rate is now 4.72%, up from 4.62% a year ago
  • The average 2-year fixed mortgage rate is now 5.08%, up from 4.95% a year ago
  • The average 85% LTV 5-year fixed mortgage rate is now 4.67%, down from 4.68% a year ago
  • The average 60% LTV 5-year fixed mortgage rate is now 4.19%, down from 4.23% 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 £1,081 per month, down from £1,074 per month a year ago

Latest rates data

 

LTV

(loan to value)

 

Term

 

Average rate 21st February 2024 Lowest rate 21st February 2024 Average rate

a year ago

 

95%

 

2 year fixed 5.79% 5.20% 5.64%
 

95%

 

5 year fixed 5.35% 4.84% 5.15%
 

90%

 

2 year fixed 5.31% 4.89% 5.36%
 

90%

 

5 year fixed 4.86% 4.48% 4.89%

 

LTV (loan to value)

 

Term

Average rate 21st February 2024 Lowest rate 21st February 2024 Average rate

a year ago

 

85%

 

2 year fixed 5.08% 4.74% 5.02%
 

85%

 

 

5 year fixed

 

4.67% 4.32% 4.68%
 

75%

 

 

2 year fixed

4.90% 4.40% 4.73%
 

75%

 

 

5 year fixed

 

4.61% 4.14% 4.41%
 

60%

 

 

2 year fixed

 

4.50% 4.38% 4.55%
 

60%

 

 

5 year fixed

4.19% 3.99% 4.23%

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 £224,815, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,081 per month if repaying over 25 years, compared with £1,074 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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