The cheapest five-year fixed mortgage rate is 3.77% at 60% loan to value (LTV) the lowest since before the mini Budget, figures show.
According to the latest Rightmove figures, the average five-year fixed mortgage rate at 60% LTV was 3.97%, which is a fall from 5.33% last year.
For the average two-year fixed mortgage rate at the same LTV tier, pricing came to 4.3% with the bottom-most rate at 4.12%. This is a decline from 5.96% average last year.
Going up to 75% LTV, the average two-year fixed rate is 4.79% and the lowest rate was 4.37%. This compares to 6.12% last year.
The average five-year fixed rate at the same LTV tier is currently 4.45% and the lowest rate is 3.93%, which is a decline from an average rate of 5.52% this time last year.
Within the 85% LTV bracket, the average two- and five-year fixed mortgage rates stood at 5.05% and 4.71% apiece, with the cheapest rates pegged at 4.55% and 4.17%.
A year ago, the average fixed mortgage rates at this tier were 6.31% for a two-year fix and 5.73% for a five-year fix.
Going up to 90% LTV, the average two-year fixed mortgage rate was 5.49% and 4.99% for a five-year fixed rate. The bottom-most rates were 5.12% and 4.55% respectively, and pricing is down from an average of 6.46% for a two-year fixed rate and 5.85% for a five-year fixed rate this time last year.
The average two-year fixed rate at 95% LTV came to 5.72% and the lowest rate was 5.35%. The average rate a year ago was 6.61%.
For a five-year fixed rate at the same LTV tier, the average pricing was 5.37% and the cheapest rate was 5.05%. This is a fall from 5.99% last year,
The average five-year fixed rate is 4.68%, down from 5.68% a year ago, while the average two-year fixed rate is 5.04%, a decrease from 6.27% a year ago.
Compared to a year ago, the average five-year fixed rate is 5.68% and the average two-year fixed rate stood at 6.27%.
Mortgage rates have been falling steadily over the past few weeks, with five-year fixed rates at 60% LTV reaching their lowest point since before the mini budget in mid-August.
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.
