There has been little change in the average mortgage rates since last week as pricing stayed mostly flat, data from a property listing firm found.
The Rightmove weekly mortgage tracker showed that the average two-year fixed rate remained at 5.09%, and the average five-year fixed rate was 4.86%.
While this was no change on last week, pricing was down by 0.44% and 0.26% respectively when compared to this time last year.
The lowest available rates were also unchanged, at 4.22% for a two-year fix and 4.14% for a five-year fix.
At 60% loan to value (LTV), the average two-year fixed rate was 4.38% and the average five-year fixed rate was 4.32%, both the same as the week before.
At 75% LTV, there was a marginal change in average mortgage rates, as the typical two-year fix fell by 0.01% to 4.86% and the average five-year fix declined by the same amount to 4.73%.
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The average two-year fixed rate at 85% LTV has fallen by 0.01% to 5.09% since last week, while the average five-year fixed rate at the same tier remained at 4.86%.
For a two-year fix at 90% LTV, the average rate was 0.01% lower at 5.48%, while a five-year fix at the same tier had the same average pricing week-on-week, at 5.07%.
At 95% LTV, the average two-year fixed rate saw the biggest movement, with a 0.05% rise to 5.7%. Meanwhile, the average five-year fixed rate for borrowers with a 5% deposit was unchanged at 5.33%.
Rightmove calculated that the average monthly mortgage payment for a first-time buyer was lower than a year ago.
Based on the asking price of £225,340, a first-time buyer taking out an average five-year fixed rate mortgage at 85% LTV over 25 years will have a monthly payment of £1,104, compared to £1,138 this time last year.
