For a two-year fix, the average rate gained 2 basis points, going to 2.46% and, for a three-year fix, a climb of 3 basis points left the average rate at 2.52%.

The average rate for a five-year fix moved up by 1 basis point, to 2.72% and the average rate for a 10-year fix fell by 3 basis points, ending the week at 2.87%.

Two-year fixes

Although the headline rate increased this week, at 95% LTV, the average rate ticked down 1 basis point, to 3.05%, and at 65% LTV, a 5 basis point drop left the average rate at 2.68%.

The most significant change in the other direction took place at 50% LTV, where the average rate rose to 2.22%.

Three-year fixes

Again, at the higher-LTV category, the rate fell slightly – in this case, at 90% LTV, by 1 basis point to 2.72%.

The biggest raises occurred at 70% LTV and 60% LTV, where moves of 9 basis points and 8 basis points saw their respective prices come to 2.48% and 2.24%.

And at 75% LTV, the average rate moved up by 5 basis points to come to 2.12%.

Five-year fixes

Here too, first-time buyers had some luck: at 95% LTV, the average rate nudged down 1 basis point to 3.34%.

At 50% LTV, meanwhile, the average shot up by 14 basis points, going from 2.64% to 2.78% and, at 70% LTV, a 4 basis point climb saw Friday’s average rate here come to 2.57%.

10-year fixes

At 75% LTV, the average rate fell 9 basis points, coming to 2.37%, and at 60% LTV, a 3 basis point reduction left the average rate at 2.26%.

Moneyfacts finance expert Eleanor Williams says: “After the residential sector experienced a bit of a lull in activity last week, this week sees a mixture of updates which were announced both before and immediately after the Bank of England’s decision to raise the base rate to 0.50%.

“Earlier in the week we recorded rate increases of 0.15% applied to various providers’ SVRs and revert rates in reaction to the first base rate rise in December, including from Coventry BS, Hinckley & Rugby BS, Paragon Bank, Metro Bank and Hodge, amongst others.

“Following yesterday’s announcement, we have seen Barclays Mortgage put up its tracker mortgages by 0.25% and The Mortgage Lender has increased revert rates by 0.25%.

“This week also saw Masthaven Bank withdraw from the residential mortgage market, while elsewhere the theme of rate re-pricing continues to dominate.

“Skipton BS put rates up by up to 0.47% across selected fixed products and reduced a couple of other deals by up to 0.04%, and Habito made notable increases of up to 1.00% on some of its deals.

“Other changes included Lloyds Bank tweaking 10-year fixed rate deals with reductions of up to 0.60% or increases of up to 0.13%, a change echoed by Halifax, which made cuts of up to 0.62% and a couple of increases of up to 0.14% on its longer-term fixed deals.”