Moneyfacts has revealed that the average rate for a two-year fix remained at 5.33% this week.

The average 10-year fix gained six basis points from 4.97% to 5.03%.

The average three-year fix gained three basis points, moving to 5.19%, and the average five-year fix fell by two basis points to come to 4.98%.

Two-year fixes

The biggest change to take place for average two-year fixed rates was the 65% loan-to-value (LTV), which saw its average rate move from 5.68% on 24 February to 5.83% today (3 March).

Meanwhile, the 70% LTV average rate dropped six basis points from 5.58% to 5.52% and the 80% LTV declined five basis points to 5.37%.

Three-year fixes

The largest increase seen here was the 65% LTV, which went up by 17 basis points from 5.80% to 5.97% by the end of the week.

The 70% LTV average rate also increased, moving from 5.33% to 5.45%.

Five-year fixes

Average five-year fixes saw a small decline with the largest average rate decrease being seen at 50% LTV where rates changed from 5.26% to 5.20%.

The average rate of the 75% LTV also went down by four basis points from 4.89% to 4.85%.

10-year fixes

The biggest change seen here was the average rate of the 60% LTV which jumped 10 basis points from 5.01% to 5.11%.

Meanwhile, the 65% LTV and 70% LTV average rates also saw increases of seven and six basis points to 6.86% and 4.22% respectively.

Moneyfacts finance expert Eleanor Williams comments: “As may well have been expected as this week included the start of a new month, we saw an influx of providers making updates to increase revert rates and SVRs, including from brands such as first direct, Vida Homeloans and Virgin Money, as well as various of the mutuals including Leeds Building Society, Cumberland Building Society and Cambridge Building Society.”

“For the most part, mortgage lenders are continuing to make positive changes to residential ranges, with some providers being increasingly competitive and this week seeing various new deals make their way into our top tables.”

“There were some notable rate reductions this week, including Bath Building Society slashing 1.15% from various fixed products, while AIB also cut up to 1.15% from a selection of its fixed rates. TSB also made some significant rate decreases of as much as 0.80% across a selection of its fixed offerings. Hodge also made some positive changes this week, with its ‘RIO’ and ‘50+’ deals seeing reductions of up to 0.40%. LiveMore Capital, Generation Home and Bluestone Mortgages were all among the providers to revamp and refresh their mortgage ranges.”

“There have also been some providers tweak their rates in the opposite direction this week. This morning saw Nationwide Building Society increase a selection of its fixed and variable tracker rates by a maximum of 0.21%, and this week also saw HSBC make selected fixed product rate rises of up to 0.13%. Suffolk Building Society balanced fixed rate reductions of up to 0.30% with increases of up to 0.20% across some of its discounted-variable rate deals and Nottingham Building Society increased a number of its fixed offerings by up to 0.19%.”

“While largely the trends are still positive for prospective borrowers, whether this continues in the coming weeks will be interesting to see.”