Average rates for all major fixes dropped slightly this week, following the same trend seen last week.

New figures from Moneyfacts show that the average two-year fix fell 3 basis points, to 6.45%, and the average fix for a three-year fix was not far behind, dropping 2 basis points, to 6.74%.

At the same time, the five-year fix lost 6 basis points, going to 6.28%, and the average rate for a 10-year fix ticked down a single basis point to 5.62%.

Two-year fixes

There were drops within most LTV categories here, with the most significant taking place at 65% LTV, where the average rate tumbled 32 basis points to come to 6.48%.

However, at 95% LTV, the average rate gained 3 basis points, to 6.62%.

Three-year fixes

In a largely static week for this fix, the only two changes big enough to register numbers were a 1 basis point rise at 80% LTV, giving a new rate of 6.88% and an 8 basis point drop at 75% LTV, which took the new average price for this fix to 6.53%.

Five-year fixes

The biggest fall within this fix happened at 65% LTV, which saw its rate move to 6.91% following a drop of 69 basis points.

And at 95% LTV, the average rate lost 8 basis points, giving an average price on Friday of 6.29%.

10-year fixes

Noteworthy changes in the realm of the long-term fix included a 15 basis point decrease at 85% LTV, giving a rate of 5.32%, and a climb of 5 basis points at 60% LTV, which took its average rate to 5.46%.