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Average mortgage rates are rising

Average mortgage rates are rising
Christina Hoghton
Written By:
Posted:
24/01/2025
Updated:
24/01/2025

Average mortgage rates have ticked up since last week, according to data from a property portal.

The Rightmove weekly mortgage tracker showed that, this week, the typical two-year fixed rate across all loan-to-value (LTV) tiers was 5.02%, 0.02 percentage points higher than last week and 0.05 percentage points higher than a year ago.

The same trend was apparent on five-year deals: the average five-year fixed rate was 4.8%, up by 0.03 percentage points on last week and by 0.13 percentage points higher than a year ago.

The lowest available rates in each category are 4.2% for a two-year fix and 4.07% for a five-year fix, unchanged from last week but higher than a year ago.

Rightmove’s data suggested that rates are up across almost all loan-to-value tiers for borrowers with small, medium and large deposits, although the rises are modest.

Those with a large 40% deposit have seen average five-year fixed rates rise by 0.02 percentage points, for example, to reach 4.29%.

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