Average fixed-rate mortgage prices edged up this week despite lenders equally lowering and cutting rates, according to Moneyfacts.

The average two-year fix rose 1bps to 5.97% this week from 5.96% last week, according to the latest Moneyfacts rate watch.

Meanwhile the typical five-year fix is now 6%, also a rise of 1bps in a week.

Moneyfacts personal finance analyst Caitlyn Eastell said: “Fixed rate pricing has been notably balanced this week, with an equal number of rate increases and reductions announced by lenders.

“The mixed picture may offer some reassurance to borrowers, particularly when compared to the volatility seen in recent months.

“Lenders may be taking a cautious approach as they turn their attention to the upcoming Bank of England base rate decision, which could prove pivotal for market sentiment.

“After months of uncertainty, even a base rate rise could provide markets greater clarity on the future path of monetary policy. If this leads to improved confidence and lower funding costs, borrowers could benefit from a more favourable environment for fixed rate mortgage repricing.”

Fixed rate moves

• Accord Mortgages – selected reductions by up to 6bps
• AIB (NI) – increased by up to 18bps
•  Family Building Society – selected reductions by 15bps
• Gen H – selected increases by up to 10bps or reductions up to 20bps
• Halifax – selected reductions by up to 9bps
•  Hodge – selected increases by up to 20bps
• Kensington – selected increases by up to 30bps
• Lloyds Bank – reductions by up to 9bps
• Precise – increased by up to 50bps
• Saffron Building Society – selected reductions by 20bps
• Santander – selected reductions by up to 10bps or increases by up to 8bps
• Suffolk Building Society – increased by up to 16bps
• TSB – selected reductions by up to 10bps
• Vida Homeloans – selected deals increased by 10bps

Variable rate moves

• Halifax – selected tracker rates reduced by up to 12bps
• Leeds Building Society – tracker rates reduced by 10bps
• Lloyds Bank – tracker rates reduced by 12bps
• Santander – selected tracker rates reduced by up to 15bps
• Skipton Building Society – tracker rates increased by up to 16bps

Withdrawals/launches

• Cambridge Building Society – new RIO fixed rates of 6.08% for 2 years & 6.28% for 5 years, both max 55%
• Chorley Building Society – new fixed rate mortgage of 6.89% to 31.10.28, max 95% LTV
•  Coventry Building Society – new interest-only fixed rate mortgages starting from 5.21% to 28.2.29 & from 5.11% to 29.2.32; new offset interest-only fixed rates starting from 5.48% to 28.2.29 & from 5.55% to 29.2.32; interest-only & offset interest-only fixed rates max 50% LTV withdrawn
• Newbury Building Society – discounted variable rates of 5.09% & 5.19% for three years withdrawn
• Saffron Building Society – new discounted variable rate, new fixed rates, new self-employed fixed rates, new premier income large loan fixed rates, new JBSP fixed rates
• Skipton Building Society – Delayed Start fixed rates of 5.70% & 5.77% for 2 years and 5.63%, 5.64%, 5.73% & 5.74% for 5 years withdrawn; Delayed Start Track Record fixed rates of 6.14% & 6.15% for 5 years withdrawn
• Vida Homeloans – new fixed rates starting from 6.19% to 30.4.29 & 6.45% to 30.4.32, all max 80% LTV