Rightmove’s weekly mortgage tracker 30/5/24
May 30, 2024
Headlines
- The average 5-year fixed mortgage rate is now 04%, up from 4.63% a year ago
- The average 2-year fixed mortgage rate is now 41%, up from 4.97% a year ago
- The average 85% LTV 5-year fixed mortgage rate is now 01%, up from 4.55% a year ago
- The average 60% LTV 5-year fixed mortgage rate is now 48%, up from 4.38% 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 £1,134 per month, up from £1,083 per month a year ago
Latest rates data
| LTV
(loan to value) |
Term
|
Average rate 30th May 2024 | Lowest rate 30th May 2024 | Average rate
a year ago |
|
95%
|
2 year fixed | 6.10% | 5.52% | 5.74% |
|
95%
|
5 year fixed | 5.69% | 5.15% | 5.27% |
|
90%
|
2 year fixed | 5.60% | 5.19% | 5.09% |
|
90%
|
5 year fixed | 5.17% | 4.71% | 4.76% |
|
LTV (loan to value) |
Term |
Average rate 30th May 2024 | Lowest rate 30th May 2024 | Average rate
a year ago |
|
85%
|
2 year fixed | 5.40% | 4.99% | 4.91% |
|
85%
|
5 year fixed
|
5.01% | 4.59% | 4.55% |
|
75%
|
2 year fixed |
5.28% | 4.79% | 4.78% |
|
75%
|
5 year fixed
|
4.95% | 4.44% | 4.43% |
|
60%
|
2 year fixed
|
4.88% | 4.75% | 4.73% |
|
60%
|
5 year fixed |
4.48% | 4.34% | 4.38% |
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 £228,003, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,134 per month if repaying over 25 years, compared with £1,083 per month a year ago.
Average mortgage rates to be credited to Rightmove. The data is provided by specialist mortgage technology provider Podium Solutions. The data covers 95% of mortgage lending, to exclude specialist lenders.
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