Precise is withdrawing all of its residential products at 5pm today to reprice and Zephyr is raising prices by up to 20 basis points on Monday.

Earlier today HSBC revealed it would be increasing prices tomorrow and Coventry relaunched the new business range it pulled from sale on Sunday, but the update rates are up to 75 basis points higher.

Precise says: “Due to ongoing unprecedented market conditions we’re withdrawing all residential products as of 5pm today, Thursday 26 March.

“New products with updated pricing will be made available tomorrow, Friday 27 March.”

Zephyr has given brokers warning that two-year fixed rates will rise by 20bps on Monday and five-year rates by 15bps.

Shawbrook has also announced it is raising rates on a number of products tomorrow.

Swaps have risen again this morning, with two and five-year rates up by around 6bps on where they ended the day yesterday.

The average mortgage rate, across all types of deals, reached 5.5% yesterday afternoon, according to Moneyfacts.