Fixed-rate mortgage pricing was flat this week, according to the latest Moneyfacts rate watch analysis.

Moneyfacts found that the typical two-year fix price was 4.85%, down 1bps from last week, while the average five-year fixed rate was unchanged at 4.97%.

The bigger picture was for more lenders to be making rate cuts than increases, Moneyfacts said, with a greater clarity over the likely future of swap rates.

Moneyfacts finance expert Rachel Springall said: “There were around a dozen lenders making fixed rate reductions, more than those making increases this week, which is an encouraging sign for prospective borrowers.

“Out of the biggest high street banks, Barclays and Santander stood out to make notable rate reductions of up to 32bps, but they also passed on increases. Barclays increased by up to 19bps and Santander up to 7bps on selected fixed rates.

“The unsettled situation surrounding swap rates over recent weeks appears to be settling somewhat, with the two-year and five-year hovering around 30-day lows. It would not then be too surprising for more mortgage rate adjustments over the next couple of weeks as lenders catch up to market movements.”

Notable rate changes

• April Mortgages – Fixed rates reduced by up to 15bps
• Atom Bank – Fixed rates reduced by 10bps
• Bank of Ireland for Intermediaries – Selected fixed rates reduced by up to 17bps; bespoke fixed rates reduced by up to 51bps
• Bank of Ireland UK – Selected fixed rates reduced by up to 13bps
• Barclays Mortgage – Selected fixed rates reduced by up to 32bps or increased by up to 19bps
• Cumberland Building Society – Selected fixed rates reduced or increased by up to 20bps
• Danske Bank UK – Selected fixed rates increased by up to 17bps
• Foundation Home Loans – Range withdrawn and replaced with new fixed rates (no specific increase/reduction stated)
• Gen H – Fixed rates reduced by up to 20bps (max 60%), up to 15bps (70–80%), and 5bps (90%)
• Halifax – Fixed rates increased by 5bps and 10bps; separate fixed rate reduced by 3bps
• Lloyds Bank – Selected fixed rates increased by 5bps
• NatWest – Selected fixed rates reduced by up to 12bps
• NatWest Intermediary Solutions – Selected fixed rates reduced by up to 12bps
• Newcastle Building Society – Selected fixed rates increased by up to 15bps
• Pepper Money – New fixed rates launched
• Principality Building Society – Selected fixed rates reduced by up to 11bps
• Royal Bank of Scotland – Fixed rates reduced by 4bps to 12bps
• Santander – Selected fixed rates reduced by up to 32bps or increased by up to 7bps
• Virgin Money – Selected fixed rates reduced by up to 17bps
• West Brom Building Society – Fixed rates increased by up to 7bps