The average rates for two-, three-, and five-year fixes rose this week, while the average rate for a 10-year fix dropped considerably, shows fresh data from Moneyfacts.

The average rate for a two- and three-year fix went up 4 basis points each, to 2.50% and 2.56%, respectively, while the average rate for a five-year fix rose 3 basis points, to 2.75%.

And the data shows that the average rate for a 10-year fix dropped by 9 basis points, to 2.78%.

Two-year fixes

Within this fix, the biggest rate move occurred at 70% LTV, where the average rate gained 13 basis points to end the week at 2.49%.

Meanwhile, at 85% LTV, the average rate rose 7 basis points to come to 2.55%.

Three-year fixes

At 65% LTV, the average rate climbed by 50 basis points, taking the average rate to 3.09%.

Lesser, but still significant movements happened at 60% LTV, the average rate of which rose 8 basis points to 2.32%, and at 95% LTV, where the average rate moved in the other direction, falling 3 basis points, to 3.17%.

Five-year fixes

Here, the biggest moved took place at 70% LTV, where the rate gained 10 basis points to 2.67%.

The average rate at 95% LTV and at 85% LTV increased by 5 basis points each, to 3.39% and 2.85%, respectively.

10-year fixes

It was a choppy week at this fix: At 95% LTV, the average rate dropped 18 basis points, coming to 3.99% by Friday, and at 80% LTV, a 3 basis point fall left the average rate at 2.78%.

At 60% LTV, the average rate moved up by 12 basis points, to 2.38%.

Moneyfacts finance expert Eleanor Williams says: “Amendments to standard variable and mortgage revert rates gathered pace following last week’s base rate rise.

“Providers including Lloyds Bank, Halifax, Santander, Nationwide and TSB are among those to have applied 0.25% increases. A number of lenders have also put up their tracker rates by the same amount, including first direct, Skipton Building Society, Santander and TSB, while Yorkshire Building Society has today relaunched its variable tracker rate deals following their withdrawal last week.

“Fuelling rises in some of the overall averages, rate increases continue to be a common, albeit not universal theme in the residential sector this week.

“Nationwide Building Society has made a significant overhaul of its range which saw some rates increase by up to 0.45% and also included the launch of a new ‘Helping Hand’ five-year fixed rate deal for first-time buyers.

“first direct put some of their fixed rates up by up to 0.25%, and Habito applied increases of up to 0.30% on a selection of its deals. Leeds Building Society revamped various fixed rate deals with new pricing ranging from 0.19% less to 0.10% more than previous offerings, and similarly, Platform balanced rate increases of up to 0.23%, with reductions of up to 0.15% on selected fixed products.

“Other updates included the withdrawal of ten-year fixed rate deals from TSB and the launch of new mortgages from Hodge.”