Rightmove’s weekly mortgage tracker – 24/10/24

October 24, 2024
Love or Hate Rightmove
  • The average 5-year fixed mortgage rate is now 4.64%, down from 5.39% a year ago
  • The average 2-year fixed mortgage rate is now 4.94%, down from 5.85% a year ago
  • The average 85% LTV 5-year fixed mortgage rate is now 4.65%, down from 5.47% a year ago
  • The average 60% LTV 5-year fixed mortgage rate is now 4.05%, down from 4.95% 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 £1,088 per month, down from £1,167 per month a year ago

 

 Latest rates data

 

LTV

(loan to value)

 

Term

 

Average rate 24th October 2024

Lowest rate 24th October 2024

Average rate

a year ago

 

All

 

2 year fixed

4.94%

3.94%

5.85%

 

All

 

5 year fixed

4.64%

3.77%

5.39%

 

 

LTV

(loan to value)

 

Term

 

Average rate 24th October 2024

Lowest rate 24th October 2024

Average rate

a year ago

 

95%

 

2 year fixed

5.52%

5.20%

6.26%

 

95%

 

5 year fixed

5.19%

4.90%

5.78%

 

90%

 

2 year fixed

5.34%

4.90%

6.10%

 

90%

 

5 year fixed

4.89%

4.49%

5.57%

 

 

 

LTV (loan to value)

 

Term

Average rate 24th October 2024

Lowest rate 24th October 2024

Average rate

a year ago

 

85%

 

2 year fixed

4.95%

4.47%

6.00%

 

85%

 

 

5 year fixed

 

4.65%

4.09%

5.47%

 

75%

 

 

2 year fixed

4.71%

4.14%

5.62%

 

75%

 

 

5 year fixed

 

4.45%

3.87%

5.19%

 

60%

 

 

2 year fixed

 

4.24%

3.94%

5.40%

 

60%

 

 

5 year fixed

4.05%

3.77%

4.95%

 

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 £226,868, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,088 per month if repaying over 25 years, compared with £1,167 per month a year ago (when the average first-time buyer property asking price was £224,263).

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Breaking News

UK House Price Index summary: August 2025

The average price of a property in the UK was £273,000 The annual price change for a property in the UK was 3.0% The monthly price change for a property in the UK was 0.8% The monthly index figure (January 2023 = 100) for the UK was 104.6   Colleen Babcock, Rightmove’s property expert, says:…
Read More →
Breaking News

Breaking Property News 22/10/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   Why software audits matter for Proptechs In today’s hyper-competitive real estate technology landscape, scaling too quickly, or operating with outdated or inefficient systems can expose firms to risks far beyond lost opportunities. That’s why an increasing number of organisations are turning to a specialised…
Read More →
Estate Agent Talk

Demand for project properties soars versus general market

New research from The Property DriveBuy reveals that demand for fixer-upper properties is easily eclipsing overall market demand as homebuyers demonstrate a strong appetite for renovation projects amidst ongoing affordability restrictions due to stubbornly higher mortgage rates and slow but steady house price growth. Across England, there are currently an estimated 601,525 homes listed for…
Read More →
Estate Agent Talk

5,600 sellers slash asking price within first 30 days

5,600 home sellers slash asking price within first 30 days of hitting the market, as market stagnates ahead of Autumn Budget The latest research from nationwide cash buying company and quick sale specialists, Springbok Properties, has revealed that as many as 5,559 home sellers have slashed their asking prices within 30 days of entering the…
Read More →
Estate Agent Talk

How to Protect Your Property Investment Before You Buy or Sell

Buying or selling property can be one of the biggest financial moves you’ll ever make, which is why protecting that investment should come before anything else. Taking the time to do the right checks and work with the right experts saves you from expensive surprises in the future. Preparation gives you power when it comes…
Read More →
Rightmove logo
Breaking News

Market remains resilient, but not strong enough to drive usual Autumn bounce

The average price of property coming to the market for sale rises by 0.3% (+£1,165) this month to £371,422. This is below the ten-year average October bounce of +1.1%, as the decade-high level of property for sale limits seller pricing power The month of September saw a softening of activity year-on-year compared with a strong…
Read More →