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Rightmove mortgage tracker jumps to 5.49 per cent as two-year fixed rates add 0.43 percentage points in 14 days

Editorial illustration of British rooftops with a sharply spiking pulse line, representing the week's sharp rise in mortgage rates

Week ending 24 September 2026 · published 24 September 2026

The 17 to 24 September window brought no fresh house-price index print but a sharp upward move in mortgage rates on the Rightmove daily tracker. The Bank of England had held Bank Rate at 3.75 per cent on 16 September, a sixth consecutive hold. The next Lloyds print is due on Wednesday 7 October 2026 and the next HM Land Registry UK House Price Index bulletin is expected in mid-October.

Mortgage rates firm sharply

The Rightmove daily mortgage tracker, refreshed on 24 September 2026, put the average two-year and five-year fixed rate at 5.49 per cent, up 0.10 percentage points week-on-week and 0.96 percentage points year-on-year. The headline two-year fixed rate has risen 0.43 percentage points in fourteen days, from 5.06 per cent on 10 September. The 85 per cent loan-to-value two-year fixed rate rose to 5.30 per cent from 5.09 per cent; the 95 per cent loan-to-value first-time-buyer two-year fixed rate reached 5.94 per cent. The lowest advertised two-year fixed rate rose to 4.75 per cent. Rightmove's data is provided by Podium Solutions and covers around 95 per cent of the mortgage market.

Bank Rate and the next decision

The Bank of England Monetary Policy Committee held Bank Rate at 3.75 per cent at its meeting ending 16 September 2026, a sixth consecutive hold, voting 6 to 3; Catherine Mann, Megan Greene and Huw Pill voted for an immediate rise to 4 per cent. The next decision will be announced at 12pm on Thursday 5 November 2026. Matt Smith of Rightmove noted financial markets remained priced for further base-rate increases and that fixed-rate deals reflect market expectations in advance of any move.

Lender and official HPI picture unchanged

No fresh lender or official house-price index print appeared in the window. The Lloyds House Price Index, formerly the Halifax House Price Index, still records its August 2026 reading of an average UK house price of 298,468 pounds, down 0.2 per cent month-on-month and 0.4 per cent year-on-year, the first annual fall since November 2023. The Nationwide House Price Index for August 2026 stands at an average of 275,465 pounds, up 0.2 per cent month-on-month and 1.6 per cent year-on-year, with July revised down to plus 1.4 per cent from the previously published 1.8 per cent. The HM Land Registry and ONS UK House Price Index for July 2026, published on 16 September, recorded an average UK house price of 273,000 pounds, up 0.7 per cent month-on-month and 1.4 per cent year-on-year, the third consecutive month of slowing annual growth. The Rightmove asking-price index remains on its August 2026 reading of 364,999 pounds, down 1.0 per cent year-on-year. The lender-index gap between Nationwide at plus 1.6 per cent and Lloyds at minus 0.4 per cent is roughly 2.0 percentage points.

Rents

The ONS Price Index of Private Rents for August 2026, published on 16 September, recorded UK average monthly rent at 1,400 pounds, up 3.8 per cent year-on-year, the highest annual rate since December 2025, mainly driven by London. England recorded plus 4.0 per cent to 1,459 pounds, Wales plus 4.3 per cent to 846 pounds, Scotland plus 1.1 per cent to 1,013 pounds and Northern Ireland plus 1.6 per cent in the twelve months to June 2026.

Sources

We report what the data shows — no forecasts, no investment advice. For local detail, see house prices by area and the monthly market report.