The average rate for a two-, three- and five-year fix fell once more this week, while the average rate for a 10-year fix was static again.
Changes were a little less dramatic than they have been in previous weeks, however, and were fuelled by movements at the higher LTV brackets.
For a two-year fix, borrowers will pay an average 2 basis points less than a week ago, with the rate slipping to 2.27%, while the average rate for a three-year fix lost 1 basis point, coming to 2.32%.
The average five-year fix lost 2 basis points, moving to 2.55%, and the 10-year fix was stubborn throughout the week, refusing to flinch from 2.99%.
Two-year fixes
At 95% LTV, the rate fell 4 basis points to 3.34%, at 90% LTV the rate dropped 5 basis points to 2.61% and, at 85% LTV, the rate slipped 4 basis points to 2.42%.
Three-year fixes
Again, the most notable changes were at 95% LTV and 90% LTV, where the average rate for each decreased by 2 basis points, with the former ending the week at 3.33% and the latter at 2.91%.
Five-year fixes
The pattern highlighted above repeated here: at 95% LTV, the rate fell by 6 basis points, which took it to 3.65% and, at 90% LTV, the rate fell by a more modest 5 basis points, to 3.08%.
Meanwhile, at 85% LTV, the rate fell by 3 basis points, moving to 2.80%.
10-year fixes
There was one change at this fix, taking place at 75% LTV, where the rate shed a single basis point to finish the week at 2.79%.
Moneyfacts finance expert Eleanor Williams says: “Encouraging signs for those with smaller levels of deposit and equity this week, where at both 90% and 95% LTV the average two-, three- and five-year fixed rates fell this week.
“HSBC made cuts of up to 0.30% on a selection of products at 80% LTV and above, and at 2.69% it currently offers the lowest initial rate at 95% LTV, according to our records today.
“From the mutuals, we saw the introduction of new deals at 90% LTV products feature in the updates from Skipton BS, Nottingham BS and West Brom BS, while Newcastle BS reduced a couple of its 95% LTV options by 0.26% and Skipton BS also reduced one of its deals for those with 5% deposits by 0.40%.
“Elsewhere, notable rate reductions were made by TSB, which cut as much as 0.90% across a selection of its fixed rate products today, while Barclays Mortgage also made rate reductions and amongst the deals to see a drop was one of its two-year tracker products, which fell by 0.94%.
“Santander was another provider to include re-pricing in this weeks’ update, and it also amended criteria by reducing the minimum advance amount on selected products down to £6,000 from £250,000.”
