Fixed-rate prices rose in the week to last Friday, Moneyfacts data shows, with the average two-year fix climbing highest, by 30 basis points to 4.53%.
The average rate for a 10-year fix was not too far behind, pushing up 27 basis points to 4.62%, while the average rate for a five-year fix rose by 18 basis points, to 4.54%.
Three-year fix prices lifted by 5 basis points to 4.83%.
Two-year fixes
The most significant changes here last week took place at the 60% LTV average rate, which jumped by 32 basis points to 4.24%, followed by the 80% LTV average rate lifting by 26 basis points to 4.59%.
The 90% LTV average rate increased by 14 basis points to 4.32%, while 90% LTV and 85% LTV average rates both rose by 12 basis points with them both hitting 4.56%.
Three-year fixes
The biggest rise at this level came at the 95% LTV average rate, rising by 17 basis points to 4.68%, with the 90% LTV average rate next coming in 9 basis points higher, at 4.74,
However, the 95% LTV average rate fell by 22 basis points to 5.27%, while the 75% LTV average rate edged higher by 1 basis point to 4.80%.
Five-year fixes
The largest rise at this level came at the 50% LTV average rate, rising by 38 basis points to 4.50%, followed by the 80% LTV average rate, which rose by 22 basis points to 4.65%.
The 95% LTV average rate rose by 8 basis points to 4.68, and the 90% LTV average rate jumped by 16 basis points to 4.46%. Average rate fixes at 100% LTV were unchanged at 4.25%.
10-year fixes
The most significant changes here took place at the 65% LTV average rate, which leapt by 61 basis points to 6.63%, followed by the 95% LTV average rate, which rose by 39 basis points to 5.09%.
The 95% LTV average rate lifted by 28 basis points to 5.48%, while the 60% LTV average rate jumped by 36 basis points to 4.71%.
Moneyfacts expert Eleanor Williams says: “The product changes and rate updates processed across the residential mortgage sector last week were very much a continuation of recent themes, albeit with a small rally in the number of products improving availability for prospective borrowers slightly.
“While there are still product withdrawals being made across the sector, we also saw The Co-operative Bank and Platform add new deals to their respective ranges, and Coventry Building Society launched three-year fixed deals.
“The NatWest group made various updates across its brands, with some refreshing the ‘online exclusive’ deals, while NatWest Intermediary Solutions added new variable tracker options. Elsewhere, Marsden Building Society added a new retirement interest-only product and a new fixed rate to its ‘older borrower’ range.
“Average fixed rates continue to rise, with some fairly significant increases made by a number of the big brands fuelling more uplift. TSB put up rates across its range by a noteworthy 80 basis points and the NatWest group made increases of almost as much, with some deals increasing by up to 79 basis points.
Halifax and Lloyds Bank made a couple of updates over last week, which saw both purchase and remortgage deals rise by up to 50 basis points, moves which were echoed at Nationwide and also at Newcastle Building Society where fixed rates also went up by as much as 50 basis points.
“Barclays Mortgages made rate increases of up to 44 basis points and also tweaked the cashback incentive amounts on some of its fixed rate deals for remortgage borrowers.
“Standard Variable Rate and revert rate changes are also still being processed, with last week seeing rate rises applied to the respective follow-on rates of providers including Virgin Money, Yorkshire Bank, Metro Bank and also a couple of the mutuals, including Nottingham Building Society and Newbury Building Society.”
