Rightmove’s weekly mortgage tracker 22/11/2023
November 22, 2023
Headline stats
- The average 5-year fixed mortgage rate is now 5.21%, down from 5.62% a year ago
- The average 2-year fixed mortgage rate is now 5.65%, down from 5.88% a year ago
- The average 85% LTV 5-year fixed mortgage rate is now 5.29%, down from 5.59% a year ago
- The average 60% LTV 5-year fixed mortgage rate is now 4.69%, down from 5.33% 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 £1,143 per month, down from £1,178 per month a year ago
Latest rates data
| LTV
(loan to value) |
Term
|
Average rate 21st November 2023 | Lowest rate 21st November 2023 | Average rate
a year ago |
|
95%
|
2 year fixed | 6.03% | 5.85% | 6.34% |
|
95%
|
5 year fixed | 5.56% | 5.30% | 5.97% |
|
90%
|
2 year fixed | 5.85% | 5.43% | 6.13% |
|
90%
|
5 year fixed | 5.33% | 4.92% | 5.86% |
|
LTV (loan to value) |
Term |
Average rate 21st November 2023 | Lowest rate 21st November 2023 | Average rate
a year ago |
|
85%
|
2 year fixed |
5.77% |
5.35% |
5.89% |
|
85%
|
5 year fixed
|
5.29% |
4.77% |
5.59% |
|
75%
|
2 year fixed |
5.50% |
4.93% |
5.70% |
|
75%
|
5 year fixed
|
5.12% | 4.58% | 5.42% |
|
60%
|
2 year fixed
|
5.07% | 4.78% | 5.62% |
|
60%
|
5 year fixed |
4.69% | 4.48% | 5.33% |
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 £223,426, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,143 per month if repaying over 25 years, compared with £1,178 per month a year ago.
You May Also Enjoy
How Local Market Trends Affect Your Home’s Selling Price
Introduction When planning to sell your home, understanding local market trends is crucial. Whether you’re working with estate agents in Selby or estate agents in Leeds, these professionals emphasize the importance of market dynamics on your home’s selling price. Local factors such as supply and demand, interest rates, and economic conditions influence property values. These…
Read More 
The biggest Halloween rent hikes
Revealed – Where tenants have been haunted by the biggest Halloween rent hikes The latest market analysis from London lettings and estate agent, Benham and Reeves, has revealed which areas of the rental market are haunting tenants this Halloween, having seen the largest increase in the average monthly cost of renting since this time last…
Read More 
The UK’s anti-social behaviour hotspots revealed as Halloween looms
As Halloween looms, the latest research by over-50s property specialist, Regency Living, has revealed the nation’s most anti-social postcodes, based on the proportion of crime related to anti-social behaviour (ASB), with Ealing, Fylde, Westminster, West Lancashire and Chorley topping the table. Halloween may be a time for good-natured spooky fun, but for some, the fright…
Read More 
77% of homeowners against Halloween
The latest research from eXp UK has revealed that while Halloween may be growing in popularity across the UK, many homeowners are planning to use smart home technology to avoid the endless stream of trick-or-treaters knocking at their doors this Friday. The survey of UK homeowners, commissioned by eXp UK, found that more than three…
Read More 
What Leaseholder Reform Really Means for Managing Agents
By Robert Poole, Director – Block Management, Glide Property Management, part of LRG The past decade has seen a growing focus on leaseholder rights, and in the last few years, that focus has intensified into full-scale reform. With the Leasehold and Freehold Reform Act 2024 now enacted and further measures under consultation, managing agents are…
Read More 
Mortgage approvals bounce back in September
The property industry’s reaction to the latest mortgage approval data from the Bank of England. The latest figures show that: – Mortgage approvals on house purchases for September sat at 65,944 up (+1.5%) from 64,963 in August. Approvals are up slightly (+0.5%) when compared to the 65,628 seen in September 2024. This increase shows stability…
Read More