The average rate for a two-year fix stayed put this week, Moneyfacts says, at 5.33%.

All other major fixes saw falls, however, with the 10-year fix dropping the most – by 7 basis points, landing at 4.97%.

The three-year fix lost 6 basis points, moving to 5.16%, and the five-year fix fell 5 basis points to come to an even 5%.

Two-year fixes

A static top line figure hid much churn within this fix. At 90% LTV, the average rate dropped 5 basis points, to 5.51%.

And in a shift away from the last few weeks, though, the average rate at 65% LTV gained 29 basis points, climbing to 5.68%, and the average rate at 60% LTV rose 12 basis points, to 5.03%.

Three-year fixes

The most significant change here took place at 70% LTV, which saw its average rate lose 19 basis points to come to 5.33%.

Meanwhile, at 95% LTV, the average rate dropped by a more modest 3 basis points, to 5.49%.

Five-year fixes

The biggest changes within this fix took place at either end of the LTV spectrum: at 95% LTV, a 6 basis point drop left the average rate at 5.35% and, at 50% LTV, the average rate fell 27 basis points, taking it to 5.26%.

10-year fixes

Here, the 70% LTV average rate fell the most – by 64 basis points to 4.16%

And at 80% LTV, the average rate dropped 8 basis points, giving a new price of 4.61%.

Moneyfacts finance expert Eleanor Williams comments: “After making waves in the residential sector with attention-grabbing updates earlier in the week which included rate reductions of up to 0.34% – and which saw products dominate our ‘Best Buy’ tables – both the Co-operative Bank and Platform have subsequently had to withdraw their new business ranges from sale, while they manage the volume of applications received.

“There has been some notable re-pricing activity this week in line with recent trends which included Aldermore implementing significant rate slashes of as much as 1.34%. Saffron Building Society reduced a couple of its first-time buyer five-year fixed options by a hefty 0.70%, while its joint-borrower sole proprietor deal saw a 0.40% decrease. Santander tweaked its fixed rate products with some initial rates dropping by up to 0.50%, and Accord Mortgages amended its range with some notable reductions of as much as 0.74%, but also applying some rate increases of up to 0.13% to other products.

“This week were various changes from the mutuals, including Cumberland Building Society making cuts of up to 0.44% to various fixed and discounted variable products, Family Building Society making tweaks across its range which included some rate decreases of 0.35%, as did West Brom Building Society with re-pricing across its fixed rates seeing some of these also reduce by 0.35%. Coventry Building Society was another mutual to refresh its range, with the latest update seeing various of its fixed and variable tracker rates drop by up to 0.23%, as well as introducing new offerings to its range.

“Balancing reductions of up to 0.22% across some of its fixed deals with increases of 0.10% across a couple of products, Principality Building Society also launched various new fixed options to market this week. Then this morning saw two providers make rate increases; Yorkshire Bank and Clydesdale Bank, who hiked selected fixed rates by up to 0.10% this morning, as well as both withdrawing a handful of options from sale. It will be interesting to see whether we start to see more providers making similar movements in the coming weeks, with some likely keeping an eye on changes in the Swap rate arena at the moment.”