Average mortgage rates have stayed more or less stable, according to Rightmove.

The property portal publishes weekly average rates available to borrowers at different loan-to-value tiers. The loan-to-value (LTV) is the mortgage as a proportion of the property’s price, so reflects the relative size of the deposit a borrower puts down.

No change

Those with the smallest deposits of 5%, borrowing 95% of the property’s value pay the highest rates and these haven’t changed in the last week. The average two-year fixed rate at 95% LTV is 5.6%. Five-year fixes at 95% LTV are also unchanged at 5.15%. These are both up significantly from a year ago, though, when they were at 3.23% and 3.45% respectively.

Those with a more significant deposit of 25% of the property’s value have also seen little change in the last seven days, said Rightmove. The average two-year fixed rate at 75% LTV is 4.74%, marginally up from 4.73% last week. Five-year fixes at 75% LTV are unchanged at 4.41%.

Borrowers putting down a large 40% deposit and borrowing just 60% of the property’s value have seen a tiny rate rise in the last week. The average two-year fixed rate at 60% LTV is 4.64%, up from 4.63% last week. Five-year fixes at 60% LTV are 4.28%, up from 4.27% last week.

Rightmove’s mortgage expert, Matt Smith, said: “Largely unchanged mortgage rates this week is some good news for home-movers who are planning their next steps. The stability we are starting to see from week-to-week is reassuring for movers, helping them to understand how much they are likely to pay each month on a mortgage. Looking a bit deeper, we have seen the last remaining sub-4% rates removed by lenders, reflecting increases in swap rates over the last few weeks. The cheapest rates available are now 4.06%, at both 60 and 75% Loan-To-Value (LTV).

“We may see more activity from lenders in the coming week, after the latest inflation figures are published. If inflation falls by more than the markets are predicting, this could be positive news for mortgage rates, though if inflation remains higher than forecast, we could see further pressure on lenders to increase rates.”