According to the latest figures from Rightmove, the average five-year fixed mortgage rate is now 4.84%, up from 4.45% a year ago, while the average two-year fixed mortgage rate is priced at 5.23%, a rise from 4.77% the same time last year.
At 60% loan to value (LTV), the average two- and five-year fixed rate came to 4.67% and 4.29% respectively, with the lowest rates pegged at 4.46% and 4.13%, which is also the same pricing as a year ago.
Going up to 75% LTV, the average two-year fixed rate is priced at 5.04%, with the average five-year fixed rate coming to 4.69%. The lowest pricing for a two-year fixed rate stood at 4.59%, and 4.36% for a five-year fixed rate.
This time last year, the average two-year fixed rate at 75% LTV was 4.56%, and 4.25% for a five-year fixed rate.
At 85% LTV, the average two-year fixed rate is 5.21% and the average five-year fixed rate is 4.77%. The lowest rates were 4.86% for a two-year fixed rate and 4.38% for a five-year fixed rate.
It compares to an average two-year fixed rate of 4.83%, and 4.46% for a five-year fixed rate.
Within the higher LTV tiers, the average two-year fixed rate at 90% and 95% LTV came to 5.5% and 5.98% respectively, with the average five-year fixed rates priced at 5.03% and 5.52%.
The lowest rates for two-year fixed rates at 90% and 95% LTV were 5.13% and 5.47%, with the lowest prices for five-year fixed rates pegged at 4.64% and 5.09%.
The average monthly mortgage payment on a typical first-time buyer-type property when taking out an average five-year fixed 85% LTV mortgage is now £1,099 per month, up from £1,056 per month a year ago.
