The cheapest five-year fixed mortgage rate is 3.77% at 60% loan to value (LTV), the lowest since before the mini Budget, figures show.
The average five-year fixed mortgage rate at 60% LTV is 3.97%, which is a fall from 5.33% last year, according to the latest Rightmove figures.
For the average two-year fixed mortgage rate at the same LTV tier, pricing comes to 4.3%, with the bottom-most rate at 4.12%. This is a decline from the 5.96% average last year.
Going up to 75% LTV, the average two-year fixed rate is 4.79% and the lowest rate is 4.37%. This compares to 6.12% last year.
The average five-year fixed rate at the same LTV tier is currently 4.45% and the lowest rate is 3.93%, which is a decline from an average rate of 5.52% this time last year.
Within the 85% LTV bracket, the average two- and five-year fixed mortgage rates stand at 5.05% and 4.71% apiece, with the cheapest rates pegged at 4.55% and 4.17%.
A year ago, the average fixed mortgage rates at this tier were 6.31% for a two-year fix and 5.73% for a five-year fix.
Going up to 90% LTV, the average two-year fixed mortgage rate is 5.49%, and it is 4.99% for a five-year fixed rate. The bottom-most rates are 5.12% and 4.55% respectively, and pricing is down from an average of 6.46% for a two-year fixed rate and 5.85% for a five-year fixed rate this time last year.
The average two-year fixed rate at 95% LTV comes to 5.72% and the lowest rate is 5.35%. The average rate a year ago was 6.61%.
For a five-year fixed rate at the same LTV tier, the average pricing is 5.37% and the cheapest rate is 5.05%. This is a fall from 5.99% last year.
The average five-year fixed rate is 4.68%, down from 5.68% a year ago, while the average two-year fixed rate is 5.04%, a decrease from 6.27% a year ago.
Compared to a year ago, the average five-year fixed rate was 5.68% and the average two-year fixed rate stood at 6.27%.
Mortgage rates have been falling steadily over the past few weeks, with five-year fixed rates at 60% LTV reaching their lowest point since before the mini budget in mid-August.
This article was first published on YourMoney.com‘s sister site, Mortgage Solutions. Read: Large deposit five-year mortgage rates at lowest since mini Budget – Rightmove
