The average two-year fixed rate mortgage rose from 2.56% to 2.57% this week, says Moneyfacts.

The average five-year fixed rate increased over the week too, from 2.78% to 2.79%, while the three-year fix dropped from 2.72% to 2.71% and the 10-year fix shed 2 basis points, ending the week at 2.95%.

Two-year fixes

At 95% LTV the average rate dropped 3 basis points, going from 4.02% to 3.99%.

The average rate at 75% LTV, meanwhile, gained 2 basis points, climbing from 2.18% to 2.20%.

There was little movement elsewhere, other than at 50% LTV, where the average rate lost 9 basis points, moving from 2.07% to 1.98%.

Three-year fixes

There was significant movement at 75% LTV here this week, where the average rate lost 11 basis points, meaning a drop from 2.21% to 2.10%.

Elsewhere, the average 95% LTV rate dropped from 4.05% to 4.03% while, at 90% LTV, the average rate also lost 2 basis points, finishing the week at 3.53%.

Five-year fixes

The largest movement with this fix occurred at 95% LTV this week, which saw a rate drop from 4.17% to 4.14%.

The only other big change took place at 50% LTV. Here, the average rate lost 7 basis points, moving from 2.42% to 2.35%.

Rate increases of 1 basis point were evident at 85% LTV, 75% LTV and 65% LTV.

10-year fixes

Here, at 75% LTV, the average rate shed 3 basis points, changing from 2.80% to 2.77%.

A 3 basis point change also occurred at 60% LTV, which saw its average rate finish at 2.48% this Friday.

Meanwhile, at 65% LTV, the average rate slumped from 2.49% to 2.26% – a 23 basis point change.

Moneyfacts finance expert Eleanor Williams says: “More positive news for those with smaller deposits this week, as HSBC reduced its mortgage guarantee scheme deals by up to 0.30%, while also cutting rates on a selection of other fixed rate products by up to 0.10%.

“The number of options available at 95% LTV has continued to climb this week as more lenders, including a number of the building societies such as Skipton, Nottingham and Cambridge Building Society, have launched products in this tier.

“Rate re-pricing also continues as, amongst a number of product withdrawals, Virgin Money made a couple of rate reductions of 0.30% and 0.50%. Cumberland Building Society cut up to a notable 0.47% from many of its fixed rate deals for house purchases, while Gatehouse Bank made rate increases of up to 0.30%.

“Ipswich Building Society is no longer offering separate ‘Later Life’ products and has instead consolidated its ranges and now offer one standard residential range.”