Rightmove’s weekly mortgage tracker shows that average mortgage rates are continuing to fall.

The average five-year fixed mortgage rate is now 5.11%, down from 5.36% exactly a year ago.

The average two-year fixed mortgage rate is now 5.52%, down from 5.61%  this time in 2022.

The average 85% LTV five-year fixed mortgage rate is now 5.20%, down from 5.37% a year ago.

The average 60% LTV five-year fixed mortgage rate is now 4.51%, down from 5.06% a year ago.

The average monthly mortgage payment on a first-time buyer type property which is currently £223,426, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,132 per month if repaying over 25 years, compared with £1,153 per month a year ago.