Average rates fell across all main fixes this week, Moneyfacts data shows.
For a two-year fix, the average rate dropped 12 basis points, to 6.33% and, for a three-year fix, the average rate tumbled 32 basis points, to 6.42%.
Meanwhile, the average rate for a five-year fix lost 10 basis points, taking it to 6.11%, and the average rate for a 10-year fix decreased by 6 basis points, to 5.56%.
Two-year fixes
Noteworthy changes within this fix included the 85% LTV average price falling 15 basis points, to 6.39%, and the average rate at 60% LTV losing 17 basis points, giving a price of 6.10%.
Three-year fixes
At the higher LTV range within this fix, the average price at both 95% LTV and 85% LTV collapsed by 39 basis points, to 6.11% and 6.35%, respectively.
And at 65% LTV, the average price dropped 55 basis points, to 6.97%.
Five-year fixes
At 85% LTV and 80% LTV, a 21 basis point fall each saw average rates drop to 6.06% and 6.23, respectively.
There was a smaller – but still significant – price drop at 50% LTV. Here, the average rate decreased by 10 basis points, landing at 5.88%.
10-year fixes
Here, the average rate at 95% LTV fell by 13 basis points, which took it to 6.22%.
At 50% LTV, meanwhile, a 25 basis point fall saw the average rate go to 5.54%.
Moneyfacts finance expert Rachel Springall comments: “The mortgage market remains fluid this week as we saw a variety of ups and downs, as well as withdrawals and launches.
“In the aftermath of the 0.75% base rate rise, on tracker rate mortgages, we saw withdrawals by NatWest and RBS and 0.75% passed on by Nationwide and Santander. Aldermore, TSB and Santander moved to pass 0.75% onto their ‘revert’ rate, whereas other lenders passed on less.
“In the fixed mortgage market, reductions took prominence across the week with a variety of lenders making changes to a variety of fixed terms.
“These reductions could continue to be the upcoming trend as lenders reassess their market position and pricing, and the current average rates reflect this sentiment over recent days as they have fallen to the lowest they have been in a month, edging away from the peak during October.”
