Research shows product life-spans and rates falling

March 16, 2025 by Brendan O'Neill

Property Market

Rates

The latest piece of industry research has found that the average lifespan of a mortgage product has fallen over the past month, with fixed rates also falling during the same period.

The new Mortgage Trends Treasury Report published by Moneyfacts UK revealed that there has been a steep month-on-month drop in the average product lifespan. In February, the average length of time that a mortgage product stayed on the market was 36 days. During this month, the average time period has fallen to just 16 days.

This reduced lifespan for products is being matched by similar reductions in rates. The Moneyfacts report shows that average rates for five and two-year fixed products have fallen by the largest amount in close to half a year.

The drop is 0.10% and 0.13% respectively, which leaves them at 5.22% and 5.39%. The last time rates for those kinds of products fell by more than that was in October of last year. Back then, five-year fixed rates were cut by 0.13% and two-year fixed rates by 0.16%.

Although the average time that a product is available has fallen in March, the number of them on offer has gone up. There are currently 6,684 mortgages available, which represents an increase on the previous month.

Rachel Springall from Moneyfacts said that all of the data points uncovered by the report indicated that competition within the market was intense, but more products and lower rates will likely be welcomed by those with CeMAP training.