Moneyfacts found that the typical two-year fix price was 4.86%, unchanged from last week.

The average five-year fixed rate rose by 1bps to 4.97%.

The overall flat nature of fixed-rate mortgages this week does not mean pricing was not dynamic, Moneyfacts said.

Instead, a series of often quite large pricing cuts were balanced out by similar increases from other lenders.

Moneyfacts head of consumer finance Adam French said: “A mix of high street names and building societies made a combination of cuts and increases this week. Notably Nationwide Building Society cut selected fixed rates by up to 16bps. However, there were pockets of increases, particularly among larger brands such as Halifax and Lloyds Bank, which raised fixed rates for house purchase borrowers while trimming remortgage rates.

“While markets are increasingly pricing in a gradual base rate reduction, and swap rates have settled somewhat after a few weeks of volatility, lenders appear to be moving a little more cautiously for now. However, subdued economic picture and the assumption that inflation will continue its downward trend mean there is a growing expectation that another BBR cut will materialise in the spring.”

Moneyfacts added that significant rate cuts this week include reductions of up to 40bps from Melton Building Society and up to 30bps from both Progressive Building Society and Kensington Mortgages.

Noteable mortgage rate changes

• Nationwide Building Society – Fixed rates reduced by up to 16bps
• Progressive Building Society – Fixed rates reduced by up to 30bps
• TSB – Fixed rates reduced by up to 10bps
• Accord Mortgages – Fixed rates reduced by up to 12bps; Variable tracker rates reduced by 4bps
• Clydesdale Bank – Fixed rates reduced by up to 28bps and end dates extended by 1 month
• Leeds Building Society – Fixed rates reduced by up to 14bps and end dates extended.
• NatWest, NatWest Int Sols and Royal Bank of Scotland   end dates extended across range
• Skipton Building Society – Fixed rates increased by up to 18bps reduced by up to 30bps. Delayed start fixed rate increased by up to 18bps. Tracker rate reduced by up to 7bps. End dates extended across range.
• Teachers Building Society – Selected variable rates reduced by up to 95bps and now with fees.
• Bank of Ireland Intermediaries – Fixed rates reduced by up to 20bps. Near prime fixed rates reduced by up to 43bps.
• Bank of Ireland UK – Fixed rate reduced by up to 17bps.
• Furness Building Society – Fixed rates increased by up to 8bps.
• Leek Building Society – Fixed rates increased by 10bps. ‘Own New’ Fixed rates reduced by 7bps and increased by 12bps.
• Melton Building Society – Fixed rates reduced by up to 40bps.
• AIB (NI) – Fixed rates increased by up to 11bps.
• Furness Building Society – Revert rate reduced by 10bps.
• Halifax – Fixed rates for house purchases increased by up to 25bps; fixed rates for remortgage borrowers reduced by up to 18bps.
• Kensington – Selected fixed rates reduced by up to 30bps.
• Lloyds Bank – Fixed rates for house purchases increased by up to 25bps; fixed rates for remortgage borrowers reduced by up to 16bps.
• West Brom Building Society – Fixed rates reduced by up to 25bps

Withdrawn mortgages

• Teachers Building Society – Selected fixed rate mortgages withdrawn
• Bank of Ireland UK – Selected fixed rate mortgages withdrawn
• Bank of Ireland Intermediaries  – Selected fixed rate mortgages withdrawn
• Melton Building Society – Selected fixed rate mortgages withdrawn
• Kensington -‘ Selected fixed rate and house purchase mortgages withdrawn

New mortgages

• Family Building Society – New family finance mortgage at 5.19%; max 100% LTV
• Leeds Building Society – New fixed rate mortgages; max 75% LTV
• The Co-operative Bank for Ints – New fixed rate mortgages
• Gen H – Core range now also available to borrowers in mainland Scotland.
• West Brom Building Society – new fixed rates at max 80% and 90% LTV for house purchases. New fixed rate at max 90% LTV for remortgages
• Kensington –New ‘Eko reward’ fixed rates for house purchase and remortgage up to max 90% LTV
• Marsden Building Society – New retirement discount variable rate; max 70% LTV
• Beverley Building Society – Range withdrawn & replaced with fixed rates starting from 4.69% & discounted variable rates starting from 4.34%.