There was a small rise for the average five year fixed rate too, from 2.61% to 2.62%.

Meanwhile, the average three- and five-year fixed rates stayed put during the week, at 2.31% and 2.98%, respectively.

Two-year fixes

There was only one rate drop of any real significance here this week – the average 95% LTV rate falling 2 basis points to 3.13%.

At 80% LTV and 75% LTV, the average rate increased by 3 basis points apiece, to 2.31% and 2.13%, respectively, while the average rate at 65% LTV saw an 8 basis point jump to 2.65%.

And at 50% LTV, the average rate ticked up by 17 basis points, moving from 1.96% to 2.13%.

Three-year fixes

At 95% LTV, the average rate dropped 3 basis points, giving a rate of 3.21% and, at 90% LTV, a 2 basis point fall saw the rate finish the week at 2.71%.

The biggest gain within this fix took place at 65% LTV, where the average rate pushed up 5 basis points to 2.35%.

Five-year fixes

A quiet week within this fix saw the average rate at 95% LTV fall 3 basis points to 3.42%.

Average rate increases of note occurred at 65% LTV, where a 4 basis point bump saw the rate finish the week at 2.86% and at 60% LTV, where the average rate changed from 1.82% to 1.84%.

10-year fixes

There were two changes here this week. At 80% LTV, the average rate lost 2 basis points, falling to 2.88% and, at 65% LTV, the average rate dropped 13 basis points, to 2.04%.

Moneyfacts finance expert Rachel Springall says: “This week’s mortgage market felt a mix of rate rises and rate cuts from a variety of lenders, which included several large banking brands and building societies.

“Lloyds Bank increased selected mortgage rates by up to 0.25%, first direct made cuts of up to 0.20% on some of its fixed rates, and Virgin Money also made rate rises by up to 0.14%.

“Yorkshire Bank increased selected fixed rates by up to 0.15% and Clydesdale Bank increased some direct fixed rates by 0.15% and intermediary business deals by up to 0.30%.

“TSB made a combination of rises and cuts, reducing selected rates at higher LTV’s by 0.20% – which includes its 90% LTV five-year fixed deal now priced at 2.44%, but it also increased rates on selected lower LTV tiers by up to 0.45%. Halifax dropped selected fixed rates on higher LTV deals by up to 0.25%.

“Building societies made a variety of changes this week. Coventry Building Society increased selected two year fixed rates by up to 0.36% and withdrew its 10-year fixed options.

“Skipton Building Society increased selected rates by up to 0.30% and cut others by up to 0.24% and launched brand new three-year fixed rates. Leeds Building Society made cuts by up to 0.35% and increases by up to 0.15% as well as launching a new five-year fixed deal.

“And Principality Building Society cut selected rates by up to 0.20%, while Family Building Society made cuts of up to 0.30%.”