The average rate for a two-year fix rose 2 basis points this week, Moneyfacts data shows, standing at 5.32% this Friday.

The average rate for a three- and five-year fix fell, however, by 5 basis points to 5.14% and by 1 basis point to 4.97%, respectively.

And the average rate for a 10-year fix stayed at 5.03%.

Two-year fixes

At 95% LTV, the average rate fell 3 basis points to 5.85% and, at 60% LTV, another 3 basis point reduction saw the average rate come to 5.49%.

Meanwhile, at 60% LTV, the average rate gained 3 basis points, to 5.07%.

Three-year fixes

Here, at 90% LTV, the average rate dropped 6 basis points and the 85% LTV average rate lost 8 basis points, to 5.20% and 5.25%, respectively.

And at 65% LTV, the average rate collapsed by 44 basis points, coming to 5.53%.

Five-year fixes

At 95% LTV, the average rate ticked down by 1 basis points, which took it to 5.30% There was a bigger change at 70% LTV, which saw its rate fall by 12 basis points, to 5.20%.

However, at 90% LTV, things moved in the opposite direction, with the average rate climbing 2 basis points to 4.99%.

10-year fixes

The only change of any significance at this fix took place at 75% LTV, where the average rate increased by 1 basis point, to 4.66%.

Moneyfactscompare.co.uk finance expert Rachel Springall says: “Lenders made a mix of rate rises and cuts this week, but there were fewer reductions taking place compared to a week prior. The market also had far fewer products withdrawn and even had some brand new deals launched this week.

“As has been a common theme over recent weeks, many of the changes have been focused on fixed rate pricing, with rises and falls evenly spread out, it has still led to average rates fluctuating, but overall five-year fixed average rate remains below the two-year fixed rate, and the latter rose slightly week-on-week.

“There were very few big bank brands changing their prices this week, but Barclays did increase selected two- and five-year fixed deals by 0.32% and 0.20% respectively and TSB moved to increase its five-year fixed mortgages that carry a £995 product fee by 0.20%.

“Several building societies either increased or reduced rates this week, including Leeds Building Society that cut selected fixed rates by up 0.10% but also withdrew and launched new fixed deals too.

“Newcastle Building Society reduced selected rates by up to 0.26% but also increased others by up to 0.10%. Nottingham Building Society reduced rates, which included two-year fixed offers at 90% LTV and 95% LTV by 0.25% and 0.15%, respectively.

“Skipton Building Society also made cuts to its new build two-year fixed mortgage by 0.07%, but elsewhere increased some two-year fixed deals by 0.38%. Elsewhere, Accord increased fixed mortgages by up to 0.40% and Virgin Money did a mix of fixed rate reductions, rises and product launches, some reducing by up to 0.33% and some rising by up to 0.20%.

“The changes demonstrate how lenders are slowly adjusting their ranges, with this week seeing the return of mortgages from The Co-operative Bank and Platform, who temporarily withdraw selected products for new business a couple of weeks ago.

“Borrowers are clearly looking for a competitive deal in the aftermath of interest rate volatility, so it will be interesting to see what deals surface next week and how long they may sit on the shelf.”