Average quoted 2-year fixed mortgage rate: history
Bank of England publishes 381 monthly values for this series, from Jan 1995 to Sep 2026. The latest is 5.13% for Sep 2026. The highest value in the series is 8.38%, first reached in Feb 1995; the lowest is 1.2%, first reached in Sep 2021. Ten years before 2026, in 2016, the yearly value was 1.72%; in 2026 it was 4.67%.
Source: Bank of England, Bank of England database series IUMBV34. Read from the publisher's data file, refreshed every six hours. Download the full series (CSV).
Average quoted 2-year fixed mortgage rate by year
Each year shows the average of that year's values, the value on the last working day and the year's high and low, worked out from the Bank of England's daily series.
| Year | Average | End of year | High | Low |
|---|---|---|---|---|
| 2026 | 4.67% | 5.13% | 5.14% | 3.93% |
| 2025 | 4.29% | 3.97% | 4.65% | 3.97% |
| 2024 | 4.81% | 4.6% | 5.19% | 4.4% |
| 2023 | 5.31% | 5.03% | 6.22% | 4.6% |
| 2022 | 3.51% | 5.43% | 5.99% | 1.64% |
| 2021 | 1.45% | 1.57% | 1.75% | 1.2% |
| 2020 | 1.58% | 1.86% | 1.94% | 1.38% |
| 2019 | 1.59% | 1.42% | 1.72% | 1.41% |
| 2018 | 1.69% | 1.73% | 1.8% | 1.49% |
| 2017 | 1.46% | 1.57% | 1.61% | 1.35% |
| 2016 | 1.72% | 1.45% | 1.95% | 1.43% |
| 2015 | 1.92% | 1.9% | 2.01% | 1.83% |
| 2014 | 2.4% | 2.08% | 2.6% | 2.08% |
| 2013 | 2.68% | 2.4% | 3.11% | 2.4% |
| 2012 | 3.54% | 3.35% | 3.74% | 3.27% |
| 2011 | 3.34% | 3.22% | 3.7% | 2.92% |
| 2010 | 3.75% | 3.5% | 3.97% | 3.5% |
| 2009 | 4.24% | 4.05% | 4.47% | 3.98% |
| 2008 | 5.88% | 4.77% | 6.6% | 4.77% |
| 2007 | 5.84% | 6.06% | 6.11% | 5.32% |
| 2006 | 4.95% | 5.15% | 5.2% | 4.62% |
| 2005 | 4.82% | 4.74% | 5.2% | 4.52% |
| 2004 | 5.19% | 5.07% | 5.53% | 4.89% |
| 2003 | 4.37% | 5.05% | 5.1% | 3.85% |
| 2002 | 4.96% | 4.62% | 5.43% | 4.43% |
| 2001 | 5.49% | 4.98% | 5.92% | 4.84% |
| 2000 | 6.36% | 6.03% | 6.79% | 6.03% |
| 1999 | 6.06% | 6.52% | 6.6% | 5.64% |
| 1998 | 7.01% | 6.42% | 7.33% | 6.42% |
| 1997 | 7.16% | 7.13% | 7.35% | 7.04% |
| 1996 | 6.91% | 7.24% | 7.24% | 6.49% |
| 1995 | 8.07% | 7.99% | 8.38% | 7.89% |
Latest monthly values
| Period | Value |
|---|---|
| Sep 2026 | 5.13% |
| Aug 2026 | 4.92% |
| Jul 2026 | 4.79% |
| Jun 2026 | 4.8% |
| May 2026 | 4.91% |
| Apr 2026 | 5.14% |
| Mar 2026 | 4.45% |
| Feb 2026 | 3.97% |
| Jan 2026 | 3.93% |
| Dec 2025 | 3.97% |
| Nov 2025 | 4.06% |
| Oct 2025 | 4.2% |
| Sep 2025 | 4.19% |
| Aug 2025 | 4.1% |
| Jul 2025 | 4.21% |
| Jun 2025 | 4.28% |
| May 2025 | 4.18% |
| Apr 2025 | 4.42% |
| Mar 2025 | 4.54% |
| Feb 2025 | 4.65% |
| Jan 2025 | 4.63% |
| Dec 2024 | 4.6% |
| Nov 2024 | 4.53% |
| Oct 2024 | 4.4% |
What this figure measures
This is the average interest rate advertised by UK banks and building societies for a new 2-year fixed-rate mortgage where the loan is 75% of the property's value. The Bank of England weights each lender's advertised rate by how much of that type of lending it does, so larger lenders count for more. Arrangement fees are not included, and the rate is for new borrowers, not for people already on a deal. The Bank publishes similar series for 5-year fixes, other loan-to-value bands and variable rates, all in its database.
For the latest value with what it means and how to read it, see Average quoted 2-year fixed mortgage rate.
These are the publisher's own numbers, repeated without adjustment. Earlier values can be revised when the publisher revises its series; this page always shows the series as it stands today.