Mortgage interest rates in the UK were on a downward trend for more than a decade before soaring in 2022. In the fourth quarter of 2024, the average weighted interest rate stood at **** percent — nearly ***** times the interest rate in the fourth quarter of 2021. Mortgage rates also vary depending on the type of mortgage: Historically, fixed rate mortgages with a shorter term had on average lower interest rates. What types of mortgages are there? In terms of the type of interest rate, mortgages can be fixed and variable. A fixed interest rate is simply a mortgage where the rate of repayment is fixed, while a variable rate depends on the lender’s underlying variable interest rate. Furthermore, mortgages could be for a house purchase or for refinancing. The vast majority of mortgages in the UK are fixed rate mortgages for house purchase, and only a small share is for remortgaging. How big is the UK mortgage market? The UK has the largest mortgage market in Europe, amounting to nearly ***billion euros in gross residential mortgage lending as of the second quarter of 2023. When comparing the total outstanding residential mortgage lending, the UK also ranks first with about *** trillion euros.

Mortgage rates increased at a record pace in 2022, with the 10-year fixed mortgage rate doubling between March 2022 and December 2022. With inflation increasing, the Bank of England introduced several bank rate hikes, resulting in higher mortgage rates. In May 2025, the average 10-year fixed rate interest rate reached **** percent. As borrowing costs get higher, demand for housing is expected to decrease, leading to declining market sentiment and slower house price growth. How have the mortgage hikes affected the market? After surging in 2021, the number of residential properties sold declined in 2023, reaching just above *** million. Despite the number of transactions falling, this figure was higher than the period before the COVID-19 pandemic. The falling transaction volume also impacted mortgage borrowing. Between the first quarter of 2023 and the first quarter of 2024, the value of new mortgage loans fell year-on-year for five straight quarters in a row. How are higher mortgages affecting homebuyers? Homeowners with a mortgage loan usually lock in a fixed rate deal for two to ten years, meaning that after this period runs out, they need to renegotiate the terms of the loan. Many of the mortgages outstanding were taken out during the period of record-low mortgage rates and have since faced notable increases in their monthly repayment. About **** million homeowners are projected to see their deal expire by the end of 2026. About *** million of these loans are projected to experience a monthly payment increase of up to *** British pounds by 2026.

Interest rate on new mortgages in the United Kingdom decreased to 4.47 percent in May from 4.49 percent in April of 2025. This dataset includes a chart with historical data for the United Kingdom Interest Rate on New Mortgages.

Graph and download economic data for Consumer Price Index: Retail price Index: All Items Less Mortgage Interest Rate for the United Kingdom (CPRPTT02GBM661N) from Jan 1975 to Feb 2018 about mortgage, United Kingdom, all items, retail, CPI, interest rate, interest, housing, rate, price index, indexes, and price.

In the fourth quarter of 2023, the number of mortgage sales in the UK stood at over 212,000. Of these, the vast majority were taken out with a fixed interest rate. The average mortgage interest rate soared in 2022. That has resulted in an overall decline in mortgage sales and a slight uptick in sales with a variable rate.A fixed interest rate is simply a mortgage where the rate of repayment is fixed. The source defines a standard variable rate as "the rate that is the lender’s underlying variable interest rate. This rate is a basic variable rate charged to borrowers with no discounts or other special deals. It is also the rate used by the lender as a reference rate when defining a discounted variable rate product (e.g., discounted product ABC is 0.50 percent below the lender’s standard variable or basic rate). This is the rate that mortgage deals will often revert to after a special rate period."

Mortgage Rate in the United Kingdom decreased to 6.98 percent in June from 7.09 percent in May of 2025. This dataset provides - United Kingdom BBA Mortgage Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for 15-Year Fixed Rate Mortgage Average in the United States (MORTGAGE15US) from 1991-08-30 to 2025-07-10 about 15-year, fixed, mortgage, interest rate, interest, rate, and USA.

Interest rates in the UK spiked in 2022 and 2023, with the average rate for new mortgage advances to individuals and individual trusts rising by 3.61 percentage points between January 2022 and January 2024. Mortgages on a floating interest rate were the most expensive as of January 2024, at 5.75 percent. On the other hand, the average rate for new advances with a five-year fixed rate was 4.88 percent.

United States Mortgage Fixed Rate: Mth Avg: 30 Year data was reported at 4.870 % pa in Nov 2018. This records an increase from the previous number of 4.830 % pa for Oct 2018. United States Mortgage Fixed Rate: Mth Avg: 30 Year data is updated monthly, averaging 7.635 % pa from Apr 1971 (Median) to Nov 2018, with 572 observations. The data reached an all-time high of 18.450 % pa in Oct 1981 and a record low of 3.350 % pa in Dec 2012. United States Mortgage Fixed Rate: Mth Avg: 30 Year data remains active status in CEIC and is reported by Federal Home Loan Mortgage Corporation, Freddie Mac. The data is categorized under Global Database’s United States – Table US.M012: Mortgage Interest Rate.

Interest Rate on Outstanding Mortgages in the United Kingdom decreased to 3.84 percent in March from 3.87 percent in February of 2025. This dataset includes a chart with historical data for the United Kingdom Interest Rate on Outstanding Mortgages.

United States Mortgage Fixed Rate: Mth Avg: 15 Year data was reported at 4.250 % pa in Oct 2018. This records an increase from the previous number of 4.080 % pa for Sep 2018. United States Mortgage Fixed Rate: Mth Avg: 15 Year data is updated monthly, averaging 5.680 % pa from Sep 1991 (Median) to Oct 2018, with 326 observations. The data reached an all-time high of 8.800 % pa in Jan 1995 and a record low of 2.660 % pa in Apr 2013. United States Mortgage Fixed Rate: Mth Avg: 15 Year data remains active status in CEIC and is reported by Federal Home Loan Mortgage Corporation, Freddie Mac. The data is categorized under Global Database’s United States – Table US.M012: Mortgage Interest Rate.

Fixed 30-year mortgage rates in the United States averaged 6.77 percent in the week ending July 4 of 2025. This dataset provides the latest reported value for - United States MBA 30-Yr Mortgage Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Mortgage credit interest rate, percent in the United Kingdom, April, 2025 The most recent value is 4.76 percent as of April 2025, a decline compared to the previous value of 4.79 percent. Historically, the average for the United Kingdom from January 2004 to April 2025 is 3.58 percent. The minimum of 1.59 percent was recorded in November 2021, while the maximum of 6.11 percent was reached in September 2008. | TheGlobalEconomy.com

Mortgage rates in the United Kingdom (UK) have risen dramatically since the beginning of 2022, causing concerns about households with loans up for renewal facing notable increases in costs. That is the case for 1.4 million fixed rate mortgages up for renewal in 2023. This type of mortgage is a popular choice among homebuyers because it allows them to lock in the interest rate for a specific period. After the period runs out, homebuyers need to renegotiate the loan or switch to a variable interest rate. The vast majority of loans up for renewal until 2024 have an initial effective mortgage rate of less than 2.5 percent - significantly lower than the current mortgage rates.

United States Mortgage Fixed Rate: Mth Avg: 30 Year: Point data was reported at 0.500 % pa in Nov 2018. This stayed constant from the previous number of 0.500 % pa for Oct 2018. United States Mortgage Fixed Rate: Mth Avg: 30 Year: Point data is updated monthly, averaging 1.100 % pa from Jan 1972 (Median) to Nov 2018, with 563 observations. The data reached an all-time high of 2.600 % pa in Sep 1985 and a record low of 0.400 % pa in May 2018. United States Mortgage Fixed Rate: Mth Avg: 30 Year: Point data remains active status in CEIC and is reported by Federal Home Loan Mortgage Corporation, Freddie Mac. The data is categorized under Global Database’s United States – Table US.M012: Mortgage Interest Rate.

United States Mortgage Fixed Rate: Wk Ending: 15 Year: Point data was reported at 0.400 % pa in 25 Oct 2018. This stayed constant from the previous number of 0.400 % pa for 18 Oct 2018. United States Mortgage Fixed Rate: Wk Ending: 15 Year: Point data is updated weekly, averaging 0.600 % pa from Jan 2004 (Median) to 25 Oct 2018, with 773 observations. The data reached an all-time high of 0.800 % pa in 25 Jul 2013 and a record low of 0.070 % pa in 24 Nov 2011. United States Mortgage Fixed Rate: Wk Ending: 15 Year: Point data remains active status in CEIC and is reported by Federal Home Loan Mortgage Corporation, Freddie Mac. The data is categorized under Global Database’s USA – Table US.M012: Mortgage Interest Rate.

The median loan-to-value ratio in the United Kingdom (UK) for sales made in the fourth quarter of 2023 was approximately 69.5 percent. This meant that the average mortgage covered 69.5 percent of the property sales price, leaving the home acquirer to cover the remaining 30.5 percent with their own savings. Regionally, it was North East where the highest average LTV ratio was seen, at 74 percent. Number of mortgage loans In 2023, the number of mortgage sales (PSD) stood at just over 888,000, which was a decrease from the previous year when the number of mortgage sales dropped significantly. Mortgage interest rates The vast majority of mortgage loans were taken out with fixed interest rates. A fixed interest rate is simply a mortgage where the rate of repayment is fixed. The Financial Conduct Authority (FCA) defines a standard variable rate as "the rate that is the lender’s underlying variable interest rate”. It is not surprising that fixed interest rates are the preferred option for so many borrowers - two, three, five and ten year fixed interest rates saw a continuous decrease in recent years, before surging in 2022.

United States Mortgage Fixed Rate: Wk Ending: 30 Year: Point data was reported at 0.500 % pa in 26 Jul 2018. This records an increase from the previous number of 0.400 % pa for 19 Jul 2018. United States Mortgage Fixed Rate: Wk Ending: 30 Year: Point data is updated weekly, averaging 0.600 % pa from Jan 2004 (Median) to 26 Jul 2018, with 760 observations. The data reached an all-time high of 0.900 % pa in 18 Nov 2010 and a record low of 0.300 % pa in 08 May 2008. United States Mortgage Fixed Rate: Wk Ending: 30 Year: Point data remains active status in CEIC and is reported by Federal Home Loan Mortgage Corporation, Freddie Mac. The data is categorized under Global Database’s USA – Table US.M012: Mortgage Interest Rate.

Mortgage credit interest rate, percent in Royaume-Uni, avril, 2025 Pour cet indicateur, Bank of England fournit des données pour la Royaume-Uni de janvier 2004 à avril 2025. La valeur moyenne pour Royaume-Uni pendant cette période était de 3.58 pour cent avec un minimum de 1.59 pour cent en novembre 2021 et un maximum de 6.11 pour cent en septembre 2008. | TheGlobalEconomy.com

Business mortgages, or buy-to-let (BTL) mortgages, are a loan sold to property investors, rather than to people who want to purchase a home to live in. In 2022, the five-year fixed mortgage interest rate for a BTL property in the United Kingdom was **** percent, which was an increase by **** percent compared to the same quarter of 2021. Conversely, the 10-year mortgage rate decreased from **** percent to *** percent. The vast majority of UK landlords had a fixed mortgage, with 5-year fix being the most popular mortgage term.