A five-year fixed rate at 60% loan to value (LTV) has reached its lowest point since before the mini Budget, at 3.83%.
According to the Rightmove figures, an average five-year fixed rate at 60% LTV is 5.05%, which is down from 5.47% a year ago.
A two-year fixed rate at the same LTV is priced at 4.44%, with the cheapest rate pegged at 4.19%. The average rate a year ago was 6.1%.
Going up to 75% LTV, the average two-year fixed rate comes to 4.96%, while a five-year fixed rate stands at 4.61%. The cheapest two- and five-year fixed rates come to 4.43% and 3.99% respectively.
A year ago, a two-year fixed rate at 75% LTV came to 6.3%, while a five-year fixed rate was priced at 5.69%.
At 85% LTV, the average two-year fixed rate is 5.23% and an average five-year fixed rate is 4.86%. The bottom-most rates for a two-year fixed deal come to 4.69% and 4.36%.
The average price for a two-year fixed rate is 6.48%, and for a five-year fixed rate, it is 5.88% at this LTV tier.
At 90% LTV, the average two-year fixed rate comes to 5.55% and a five-year fixed rate stands at 5.09%. The lowest rates are 5.18% and 4.68% respectively.
A year ago, a two-year fixed rate was priced at 6.62% and a five-year fixed rate was 5.99%.
Going up to 95% LTV, the average two-year fixed rate is 5.9% and the average five-year fixed rate is 5.47%. The bottom-most rate for a two-year fixed rate is 5.44%, and it is 5.19% for a five-year fixed rate.
The average rates a year ago were 6.67% and 6.1% for a two- and five-year deal respectively.
The average five-year fixed rate is 4.8%, a drop from 5.82% a year ago, while the average two-year fixed mortgage rate is now 5.18%, down from 6.42% last year.
Rightmove figures last week showed that the lowest five-year fixed rate had dipped below 4% for the first time since February.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
