WHAT ARE THE CURRENT MORTGAGE RATES? – RIGHTMOVE
If you’re thinking about buying a home, you might be wondering what the current mortgage rates are in the UK.
Lenders change the rates of their mortgage products regularly. That’s why we update the average mortgage rates weekly and compare how they’ve changed since the previous week. You can also compare the rates across a range of loan to value (LTV) percentages.
What’s happening with mortgage rates now?
There has been lots of news about Base Rate rises and how they can impact mortgage rates. The Bank of England (BoE) meet about every six weeks to decide whether the Base Rate should go up or down, or stay the same. On 23 March, the Base Rate increased to 4.25%, from 4% in February.
Our mortgage expert Matt Smith says: “Average rates have crept down again this week, but the pace of change has dropped a little, with the biggest week-on-week reduction being 0.10% for 95% 2-year fixed deals. This lull is likely to be a combination of the Easter break limiting activity, and lenders taking stock following a very active period of price cuts across the market.
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