Rightmove’s weekly mortgage tracker 17/4/24
April 17, 2024
Headlines
- The average 5-year fixed mortgage rate is now 4.84%, up from 4.45% a year ago
- The average 2-year fixed mortgage rate is now 5.23%, up from 4.77% a year ago
- The average 85% LTV 5-year fixed mortgage rate is now 4.77%, up from 4.46% a year ago
- The average 60% LTV 5-year fixed mortgage rate is now 4.29%, up from 4.13% 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 £1,099 per month, up from £1,056 per month a year ago
Latest rates data
| LTV
(loan to value) |
Term
|
Average rate 17th April 2024 | Lowest rate 17th April 2024 | Average rate
a year ago |
|
95%
|
2 year fixed | 5.98% | 5.47% | 5.48% |
|
95%
|
5 year fixed | 5.52% | 5.09% | 5.04% |
|
90%
|
2 year fixed | 5.50% | 5.13% | 5.07% |
|
90%
|
5 year fixed | 5.03% | 4.64% | 4.69% |
|
LTV (loan to value) |
Term |
Average rate 17th April 2024 | Lowest rate 17th April 2024 | Average rate
a year ago |
|
85%
|
2 year fixed | 5.21% | 4.86% | 4.83% |
|
85%
|
5 year fixed
|
4.77% | 4.38% | 4.46% |
|
75%
|
2 year fixed |
5.04% | 4.59% | 4.56% |
|
75%
|
5 year fixed
|
4.69% | 4.36% | 4.25% |
|
60%
|
2 year fixed
|
4.67% | 4.46% | 4.46% |
|
60%
|
5 year fixed |
4.29% | 4.13% | 4.13% |
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 £226,370, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,099 per month if repaying over 25 years, compared with £1,056 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. All rates are based on products with a circa £999 fee.
You May Also Enjoy
Landlords and tenants advised to work together to get through extreme heatwaves
With some areas set to be hotter than Portugal this week, lettings and estate agents across the UK are issuing advice to protect properties ahead of extreme weather Prolonged periods of hot weather across the UK are placing additional pressure on homes, from overheating and poor ventilation to damage caused by extreme temperatures. Today, lettings…
Read More 
Nearly half of UK home listings fail to sell
A London estate agent has warned that thousands of homeowners across the UK are pricing themselves out of the market by setting asking prices that no longer reflect what buyers are willing to pay. The warning comes after new analysis by Zoopla, covering more than two million property listings between 2023 and 2026, found that…
Read More 
Lowest number of new build developments coming to market since 2017
New analysis from the UK’s largest property platform Rightmove reveals that the number of new build housing developments coming to market is at its lowest level since January 2017 The figures are despite the government’s target to build 1.5 million homes over the course of this parliament Higher mortgage rates continue to set a challenging…
Read More 
What Every Estate Agent Should Tell Clients Before Moving Day
For most estate agents, the job is done once contracts are exchanged, completion takes place, and the keys are handed over. For your client, however, that’s when one of the biggest challenges begins. Moving day has the power to turn months of excitement into an incredibly stressful experience, or a smooth finish to what has…
Read More 
Breaking Property News 9/7/26
Daily bite-sized proptech and property news in partnership with Proptech-X. PropTech is evolving but WhatsApp is still winning the Property transaction battle A home-moving process that a decade of PropTech failed to fix Thought leadership by Olivier Jauniaux Founder of NestLink There are a particular series of messages, somewhere in every property chain, that decides whether…
Read More 
Heatwaves haven’t diminished love for south-facing gardens
The latest research from Yopa reveals that despite 81% of people saying they have been avoiding their garden during the recent heatwaves, south-facing gardens continue to be the preferred orientation of choice for UK homeowners, attracting house price premiums of over £20,000 on average. However, the insight from Yopa also suggests that should heatwaves become…
Read More