Mortgage rates have continued to fall week-on-week, with the largest decreases occurring at 75% loan to value (LTV).
According to Rightmove’s figures, the average two-year fixed rate stands at 4.98% and the average five-year fixed rate is priced at 4.78%. These are down by 0.04% and 0.03% respectively week-on-week. However, the rates are up 0.01% and 0.14% year-on-year.
The lowest rates for two- and five-year fixed rates come to 4.15% and 4% respectively, which are 0.1% and 0.13% down on last week. This equals respective falls of 0.1% and 0.13% week-on-week.
Looking at 60% LTV, the average two-year fixed rate is 4.4% and the average five-year fixed rate is 4.29%. This is a decrease of 0.04% compared to last week.
Going up to 75% LTV, the average two-year fixed rate comes to 4.79% and the average five-year fixed rate is 4.64%. This is a reduction of 0.03% and 0.05% week-on-week respectively.
At 85% LTV, the average two-year fixed rate is 4.91%, while the average five-year fixed rate is 4.76%. The latter is down 0.03% compared to last week.
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The average two-year fixed rate at 90% LTV is 5.35%, and an average five-year fixed rate comes to 4.99%. This is a reduction of 0.03% and 0.02% week-on-week.
At 95% LTV, the average two-year fixed rate is 5.69% and the average five-year fixed rate comes to 5.39%. These are falls of 0.03% and 0.01% compared to last week.
