The average rate rose for two-, three-, and five-year fixed mortgages this week, Moneyfacts data shows.

The rate for a two-year fix increased by 2 basis points to 2.29%, by 5 basis points to 2.31% for a three-year fix and, for a five-year fix, by 2 basis points to 2.59%.

Meanwhile, for a 10-year fix, the average rate lost 1 basis point to finish the week at 2.98%.

Two-year fixes

There was plenty of action at this fix this week.

First, the rate increases: at 85% LTV, the average rate pushed up by 3 basis points to 2.42% and at 75% LTV, the average rate gained 4 basis points, moving to 2.06%.

The biggest change was at 65% LTV, which saw its rate go up by 15 basis points to 2.56%.

And at 60% LTV, the average rate moved up by 5 basis points to 1.50%.

There were a handful of rate drops, too: At 95% LTV, the average rate dropped 1 basis point, coming to 3.22% and, at 70% LTV, a 5 basis point fall saw the rate move to 2.26%.

Three year fixes

There were big changes here this week, too.

Rate increases included the average price of a 95% LTV mortgage growing by 3 basis points to 3.24% and the 90% LTV average rate, which climbed by 6 basis points to 2.73%.

At 70% LTV, the average rate rocketed to 2.21%, which was a 21 basis point increase, and at 60% LTV, the average rate went up by a more modest 15 basis points, to 1.75%.

Notable drops included the average rate at 80% LTV losing 5 basis points to land at 2.15% and the average rate at 65% LTV plummeting by 23 basis points, going from 2.53% to 2.30%.

Five-year fixes

Here is where things quietened down somewhat.

The average rate at 65% LTV increased by 15 basis points, to 2.75% but, other than this, the most significant change in this direction was at 75% LTV, which saw a 3 basis point jump to 2.30%.

And the only drop of any note was at 95% LTV, where the average rate fell by 2 basis points to 3.50%.

10-year fixes

At 75% LTV, the average rate dropped 2 basis points, to 2.68% and, at 65% LTV, a 7 basis point fall saw the rate end at 2.17% this week.

Moneyfacts finance expert Rachel Springall says: “Rate rises dominated the mortgage market over the past week, with several prominent lenders changing their fixed mortgage range and others withdrawing their tracker deals (Yorkshire BS and Nationwide).

“One of the most notable trends of the week was a loss of sub-1% fixed mortgage deals, so only a handful of these now remain. Due to the volatility with pricing this week, borrowers would be wise to seek out independent advice to assess the options now available to them.

“Lenders to increase selected rates this week include; HSBC by up to 0.25%, Nationwide by up to 0.35%, NatWest for Intermediaries by up to 0.15%, Halifax by up to 0.20% and Lloyds Bank by up to 0.10%.

“Building Societies also made movements this week – West Brom increased selected rates by up to 0.35% and Furness cut its two year fixed deal priced at 1.37% by 0.04% and its five-year fixed deal at 95% LTV was cut by 0.10% to 2.89%.

“Leeds made cuts by up to 0.50% and increases by up to 0.28% and launched brand new fixed rates starting from 1.15%.

“There were also other lenders either withdrawing and replacing selected ranges or even withdrawing deals completely over the past week.”