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

October 24, 2024
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  • 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).

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