The average rate for a two-year fix edged up 2 basis points to 5.80%, however, the average three-year fix was unchanged at 5.49%.   

The average five-year fix was lifted by a single basis point to 5.35%, although the average 10-year fix was also unchanged at 5.91%.    

Two-year fixes      

The largest rises in this term came at 80% LTV and 75% LTV average rates, which both rose by 3 basis points to 5.85% and 5.60%, respectively.  

The 95% LTV average rate was 2 basis points higher at 6.02%, while the 85% LTV average rate was up by 2 basis points to 5.94%.        

Three-year fixes  

The biggest uplift at this level saw the 80% LTV average rate rise by 6 basis points to 5.64%, followed by the 100% LTV average rate, up 5 basis points to 4.80%.         

The 95% LTV and the 85% LTV average rates both fell by a single basis point to 5.85% and 5.65%, respectively.  

Five-year fixes  

The largest rises in this term came at 95% LTV 80% LTV and 60% LTV average rates, which lifted by 2 basis points to 5.48%, 5.40% and 4.91%, respectively. The 65% LTV average rate fell by 7 basis points to 5.51%.  

The 90% LTV and the 85% LTV average rates both rose by a single basis point to 5.50% and 5.44%, respectively.  

10-year fixes  

All fixes at this term were unchanged.  

Moneyfacts Finance Expert Rachel Springall says: “The activity within the mortgage market was slightly more subdued this week. There were several fixed rate cuts, a few reductions and some withdrawals that led to a slight rise in both the overall two- and five-year fixed mortgage rates.   

“However, there were fewer lenders making changes compared to the last week.  

“The prominent brands to increase fixed rates this week included Halifax by up to 20 basis points, Lloyds Bank by up to 9 basis points and Virgin Money by up to 6 basis points. Santander made increases of up to 43 basis points as well as reductions of up to 23 basis points.  

“A few building societies decided to tweak rates in their fixed ranges this week, with increases being made by Skipton Building Society by up to 38 basis points and Nottingham Building Society by up to 15 basis points.

“However, Coventry Building Society decided to cut fixed rates by up to 22 basis points and so did Mansfield Building Society, by up to 60 basis points, on a credit repair deal.  

“Amid the rate re-pricing, a few lenders moved to withdraw from the fixed rate market, including Melton Building Society, Leek Building Society, Kent Reliance, Coventry Building Society and Skipton Building Society.  

“Not to go unnoticed, Kent Reliance reduced fixed rates by up to 30 basis points, along with Gen H which made cuts of up to 25 basis points.

“The Co-operative Bank made increases of up to 22 basis points and reductions of up to 14 basis points, Progressive Building Society increased rates by up to 45 basis points and reductions on one of its remortgage two-year fixes by 8 basis points. Metro Bank increased fixed rates by up to 30 basis points, along with Pepper Money by up to 25 basis points.  

Springall adds: “Some eye-catching deals also surfaced this week, including a five-year fixed deal from Gen H, priced at 4.98% and available at 95% loan-to-value for house purchase customers. It includes a free valuation and charges a product fee of £999. Overall, it’s an attractive choice for borrowers with a limited deposit.  

“The re-pricing surge of recent weeks has stabilised slightly, but borrowers still need to act quickly to secure an attractive deal. Lenders will no doubt have their eyes focused on the next Bank of England base rate decision and the swap rate market when it comes to their future fixed-rate pricing.   

“If the swap market calms, it can take a couple of weeks for lenders to catch up with their re-pricing. Consumers would be wise to seek to keep on top of the changing market, particularly at a time where deals are being withdrawn.”