The average two-year fixed rate fell again this week, dropping to 2.15 per cent.

On 8 April (date adjusted from 10 April due to the Easter bank holidays), this rate stood at 2.21 per cent.

Falls occurred in the average rates for three-, five- and ten-year fixes, too.

Two-year fixes

Within this grouping, the biggest movers were the average rate at 95 per cent LTV, where it dropped from 3.36 per cent to 3.28 per cent and at 70 per cent LTV, where the rate fell from 2.36 per cent to 2.34 per cent.

At 85 per cent LTV, the average rate increased from 2.34 per cent to 2.37 per cent.

Three-year fixes

Here, the average rate fell from 2.37 per cent to 2.32 per cent.

Big movements dominated this LTV category: At 95 per cent the average rate dropped from 3.61 per cent to 3.34 per cent, and at 85 per cent from 2.23 per cent to 2.08 per cent.

The biggest opposite movement was at 100 per cent, where the average rate jumped from 3.25 per cent to 3.59 per cent.

This was followed by the rate at 60 per cent, where it increased from 2.14 per cent to 2.23 per cent.

Five-year fixes

The average five-year fixed rate dropped from 2.50 per cent to 2.41 per cent.

The biggest movement of the week across all LTVs can be found here, with the 95 per cent LTV rate falling from 3.88 per cent to 3.45 per cent – a total of 0.43 per cent.

At 90 per cent LTV, the average rate dropped from 2.93 per cent to 2.75 per cent.

There was a slight uptick at 85 per cent LTV, where average rates increased from 2.62 per cent to 2.66 per cent.

Ten-year fixes

As ever, this LTV category was quieter than most, with the average rate overall falling from 2.69 per cent 2.67 per cent.

The only changes were seen at 80 per cent LTV and 75 per cent LTV, where the rates dropped from 2.92 per cent to 2.85 per cent and 2.64 per cent to 2.59 per cent, respectively.

Moneyfacts finance expert Eleanor Williams notes: “A slightly quieter week for the mortgage market in terms of the number of changes made, perhaps reflecting that lenders are starting to acclimatise to the current circumstances. It’s also very positive to see that we are ending the week with a few providers beginning to return products to their ranges.

“Among those are HSBC, who have not only reduced a selection of their fixed rates, but also launched new variable tracker mortgages, including a 90 per cent LTV product which is available for both purchase and remortgage customers.

“Other lenders, such as Precise Mortgages, have made their first steps into a welcome return to the sector, and The Melton BS and MBS Lending have also relaunched a selection of products. Newbury BS has reduced some of its discounted variable rate deals and selected fixed rate mortgages by as much as 0.30 per cent, and we have also seen Nottingham BS relaunch competitively priced deals, which are available up to 70 per cent LTV.

“These changes may be an early indication that lenders have begun to adapt to the exceptional economic and operational changes of recent weeks in order to continue supporting their customers, and that hopefully more providers will be following suit in the coming weeks.”