The average rate for a three-year fix was the only price to move up this week, Moneyfacts data shows, increasing by 1 basis point to come to 5.86%.

Elsewhere, the average rate for a two-year fix fell 2 basis points, to 5.82%, for a five-year fix a 4 basis point reduction saw the rate come to 5.63%, and the 10-year fix average rate tumbled by 13 basis points, to come to 5.47%.

Two-year fixes

There were only slight changes within this fix this week, with the biggest being at 95% LTV, which dropped 5 basis points, landing at 6.13% at the time of writing.

Other noteworthy movement took place at 70% LTV, which saw its average price tick up by 1 basis point, to 5.87%.

Three-year fixes

Despite its headline movement upwards, there were some rate decreases here. For example, at 95% LTV, the average rate shed 3 basis points, moving to 5.92%.

The biggest change upwards was at 70% LTV, where a 6 basis point increase led to an average price of 6.46%.

Five-year fixes

A significant price drop was to be found at 95% LTV within this fix, where the average rate lost 6 basis points, offering new borrowers 5.82%.

It was at 65% LTV, however, where the biggest change occurred – here, the average rate collapsed by 31 basis points, giving a rate of 6.17%.

10-year fixes

There were big movements here, with the two most obvious being the 60% LTV average rate, which fell by 22 basis points, to 5.41%, and at 65% LTV, where the average rate plummeted by 106 basis points, giving a Friday price of 7.04%.

Moneyfacts finance expert Eleanor Williams comments: “As may well be expected, in the aftermath of yesterday’s decision to increase base rate for a ninth time, on variable tracker mortgages various lenders have already shifted their products in line; providers such as first direct, HSBC, Virgin Money and Barclays Mortgage have increased their trackers by 0.50%, Yorkshire Building Society put its up by 0.70%, while on Thursday Coventry Building Society withdrew its from sale.

“Revert rates and SVRs have also begun to inch up, with updates coming from Barclays Mortgage, The Mortgage Lender, Precise Mortgages and Kent Reliance, who all increased theirs by 0.50%, while earlier this week we saw Accord Mortgages and Chelsea Building Society both raise theirs by 0.60%.

“Fixed rate changes have also continued to fuel slight reductions in the overall average two- and five-year fixed rate sectors. From the mutuals we saw West Brom Building Society slash selected products by up to 0.75%, Cumberland Building Society made cuts of as much as 0.74% across its fixed rate deals, Suffolk Building Society reduced fixed rates by up to 0.50% (and discounted variable rates by up to 0.66%), Skipton Building Society included cuts of up to 0.49% within its latest update and Leeds Building Society of up to 0.30%.

“Elsewhere, LiveMore Capital made notable rate cuts of 1.06% to its retirement interest-only (RIO) and term-only deals, while it’s capital and interest products were reduced by 1.16%. Santander tweaked its range, with fixed rate cuts of up to 0.35%, while Platform and The Co-operative Bank made rate increases, putting fixed rates up by up to 0.12% and variable tracker rates up to 0.10%.

“While there are product withdrawals continuing to be made, there are also new deals coming to market; Accord Mortgages launched new variable tracker rates from 3.69% for two years, Cumberland Building Society added a new discounted variable rate to its range while also extending its existing fixed and discounted variable rates with £1,000 cashback to now be available to first-time buyers, and Leeds Building Society launched a new RIO fixed rate option.”