The average two-year fix stayed at 2.04 per cent every day from 15 May to 22 May, shows a report from Moneyfacts.

Meanwhile, the average three-year fixed rate dropped slightly and the average five- and ten-year fixes dropped by an even lesser extent.

Two-year fixes

Here, the average fix at 50 per cent LTV was the most significant mover, increasing from 1.88 per cent to 1.99 per cent – 0.11 per cent in all.

The average rage at 90 per cent LTV acted as a counter somewhat, falling from 2.41 per cent to 2.34 per cent.

The only other LTV band that saw movement beyond 0.1 per cent was at 70 per cent LTV, where the average rate grew from 2.11 per cent to 2.13 per cent.

Three-year fixes

The average rate fell slightly here, from 2.30 per cent to 2.28 per cent.

Again, 50 per cent LTV saw the biggest change – a 0.12 per cent drop in the average rate, from 3.47 per cent to 3.35 per cent.

Another large fall was seen at 60 per cent LTV, where the average rate fell from 2.20 per cent to 2.16 per cent.

At 85 per cent LTV, the average rate moved up, from 2.09 per cent to 2.13 per cent. Elsewhere within this fix things were quiet.

Five-year fixes

At this term, the average rate fell 0.01 per cent, from 2.29 per cent to 2.28 per cent.

The main drivers of this were at 85 per cent LTV, where the average rate fell from 2.48 per cent to 2.45 per cent and at 70 per cent LTV, where the average rate dropped from 2.38 per cent to 2.35 per cent.

10-year fixes

The average rate here also fell 0.01 per cent, from 2.64 per cent to 2.63 per cent.

The sole significant mover was at 90 per cent LTV, where the average rate dropped 0.05 per cent, from 3.29 per cent to 3.24 per cent. There was little movement anywhere else.

Moneyfacts finance expert Eleanor Williams says: “Further encouraging movements from a variety of mortgage lenders this week, with the majority of providers continuing the trend of expanding their ranges and increasing their maximum LTV offerings.

“Accord Mortgages, Yorkshire Building Society, Chelsea Building Society and Reliance Bank have all launched new 90 per cent LTV products this week, adding some choice for consumers in this contracted sector of the mortgage market.

“There have also been more rate reductions this week, with Halifax reducing some of their remortgage products by as much as 0.49 per cent, Skipton BS cutting selected rates by up to 0.20 per cent and Barclays Mortgage making reductions of up to 0.10 pe cent across a number of their deals.

“Providers are still making changes to criteria to keep pace with the fluid and evolving landscape we find ourselves in, so those who are considering looking for a new deal whilst rates remain low may find speaking with a qualified, independent advisor with access to up to date information could be wise, as this may help them navigate any changing requirements and to source the right products for their needs.”