Average rates increased in most fixed rate categories this week, shows Moneyfacts.

The average two-year fix at all LTVs rose from 2.21 per cent to 2.25 per cent, the average five-year fix increased from 2.47 per cent to 2.50 per cent, and the 10-year fix from 2.67 per cent to 2.69 per cent.

The average three-year fixed rate at all LTVs dropped from 2.49 per cent to 2.46 per cent.

Within all of the fixes listed above there were significant movements.

Two-year fixes

At 90 per cent LTV the rate flew upward by 32 basis points, taking the average rate from 3.22 per cent to 3.54 per cent.

There was another large move at 65 per cent LTV, with the average rate increasing from 1.69 per cent to 1.92 per cent.

Meanwhile, at 95 per cent LTV, the trend within this fix reversed, with the average rate decreasing from 4.49 per cent to 4.48 per cent.

Three-year fixes

Despite the overall average rate dropping for three-year fixes there was one large movement upwards within – at 90 per cent LTV the average rate grew from 3.26 per cent to 3.55 per cent.

Meanwhile, at 70 per cent LTV the average rate decreased from 2.62 per cent to 2.46 per cent and at 60 per cent LTV, from 2.24 per cent to 2.13 per cent.

Further rate decreases were evident by as much as 5 basis points.

Five-year fixes

Here, the most significant move was at 90 per cent LTV, where the average rate went up from 3.42 per cent to 3.76 per cent.

At 65 per cent LTV the average rate increased from 1.92 per cent to 2.17 per cent and, at 95 per cent LTV from 3.86 per cent to 4.02 per cent.

At 70 per cent LTV the rate dropped slightly, from 2.54 per cent to 2.53 per cent.

10-year fixes

The biggest change within this fix was at 90 per cent LTV< with the rate changing from 3.14 per cent to 3.44 per cent.

Another large change occurred at 65 per cent LTV – here the average rate rose from 2.28 per cent to 2.44 per cent.

Finance Expert Rachel Springall says: “This week the most notable changes in the mortgage market have been the removal of more higher LTV deals. HSBC pulled its 90 per cent LTV offers and there have also been other lenders withdrawing products, including 80 per cent LTV deals from Post Office Money. This lender also made a few rate increases, such as a rise of 0.35 per cent on two and five-year fixed 85 per cent LTV deals.

“It is becoming very clear that borrowers who are searching for a higher LTV mortgage will need to be fast to take advantage. As an example, the two and five-year fixed 85 per cent LTV deals from Leek United Building Society that launched at the start of the week were withdrawn just a few days later.

“In positive news, Atom Bank returned to the market this week and Barclays launched new deals.”