The Rightmove weekly mortgage tracker revealed few changes across various loan-to-value (LTV) tiers.
The average two-year fixed rate came to 5.23% as of 27 March, while the average five-year fixed rate was 4.84%. This was unchanged from last week.
Compared to last year, rates are still higher than the averages of 4.92% and 4.59% during the same week in 2022.
At 60% LTV, the average two-year fixed rate was recorded at 4.69% and the average five-year fixed rate was 4.35%. This represented no change in the average two-year fixed rate and a small decline on last week’s five-year fixed rate average of 4.37%.
The average two-year fixed rate at 75% LTV was 5.05%, down from 5.06% last week, while the average five-year fixed rates dropped from 4.74% to 4.72%.
At 85% LTV, average rates stayed the same at 5.22% for a two-year fix and 4.79% for a five-year fix.
At 90% LTV, the average two-year fix was unchanged at 5.46% and the average five-year fix fell slightly from 4.99% to 4.98%. At 95% LTV, the average two-year fixed rate stayed the same at 5.91% and the average five-year fix dipped from 5.48% to 5.47%.
The average monthly mortgage payment for a first-time buyer was also the same this week.
Stable first-time buyer payments
Based on a property worth £226,370 with a five-year fix at 85% LTV, this came to £1,101 per month over a 25-year mortgage term. This was slightly higher than the average of £1,071 per month a year ago.
