The average 2-year fixed mortgage rate with a deposit of 40% is below the five-year equivalent average for the first time in two and a half years.
The value adjustment from a typical 2-year 60% loan is 4.18%, with 4.19% for the five-year equivalent. 
This is the first time that two-year fees at this level have been cheaper than their five-year equivalent since former Prime Minister Liztrus' mini budget in September 2022.
According to the real estate site, lenders say short-term loan pricing could be easier amid the uncertainty caused by rising global tariffs.
This adds that the gap between the two-year and five-year revisions is completely closed.
It points out that the average was 4.80% over two years, a decrease of 43 basis points from a year ago, and an average of 4.70% over five years, a mere 14bps lower than 12 months ago.
The company adds that the market's minimum two-year revisions fell 60bps from a year ago at 3.86%, while the minimum five-year revisions available was 3.89%, a 24bps decrease over the same period.
A mortgage expert, RightMove Matt Smith, said: “For those with the largest deposits, a typical two-year fixed-rate mortgage is lower than five years equivalent to five years, which I have never seen since the mini budget.
“This reflects a growth trend that lenders are cheaper than short-term pricing than long-term transactions, and the global tariff landscape may have accelerated this move.
“The average rate trend in mass markets should continue gradually, and bank rate cuts in May will bring lenders to more rooms for further interest rate cuts.”
NAEA Propertymark President Toby Leek added: “The mortgage market tends to reflect a wider economy very much, but today's news shows strong market confidence in folding more attractive transactions.
“However, if you are committed to a new mortgage transaction, it is very important to consider all aspects of how you can potentially deal with it financially if the transaction you choose is over.
“To fully consider short-term transaction savings, it is important to fully consider the potential security of long-term transactions when choosing a fixed-term mortgage.”
