According to Rightmove’s Weekly Mortgage Tracker, the average two-year fixed rate is 4.6% and its five-year equivalent is 4.58%. This is down 0.02% compared to the prior week, but a drop of 0.84% and 0.48% year-on-year, respectively.
The report continued that the lowest two- and five-year fixed rates were 3.72% and 3.78%, which is unchanged from last week but 1.03% and 0.56% down compared to last year for two- and five-year deals.
Rightmove said that at 60% loan to value (LTV), the average two-year fixed rate is 3.93% and 3.98%, a weekly drop of 0.08% and 0.07% and a yearly decrease of 0.96% and 0.51%.
Going up to 75% LTV, the average two-year fixed rate is 4.35% and the average five-year fixed rate is 4.39%. This is a weekly fall of 0.02% and 0.01% respectively, while the two-year fixed rate has fallen by 0.96% and the decrease for the five-year fixed rate is down 0.56%.
Rightmove continued that within the 85% LTV tier, the average two-year fixed rate comes to 4.56% and the average five-year fixed rate is 4.53%. This represents a weekly contraction of 0.02% and 0.01% respectively, and 0.9% and 0.5% year-on-year.
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At 90% LTV, the average two-year fixed rate is 4.91% and the average five-year fixed rate is 4.77%, a weekly decline of 0.02% and 0.01% respectively. The year-on-year drop is 0.75% for the two-year fixed rate and 0.45% for a five-year fixed rate.
Going up to 95% LTV, the average two-year fixed rate is 5.33% and the average five-year fixed rate is 5.25%, a weekly improvement of 0.03% and 0.01% respectively. The yearly change is 0.77% and 0.45% apiece.
