The cost of 10-year fixed rates has continued to fall over the past week, the latest figures from Moneyfacts reveal.

The week before last, the average 10-year fixed across all loan-to-values dropped from 2.75 per cent to 2.73 per cent.

Over the past week the rate has dipped further to 2.72 per cent but lower LTV tiers have seen bigger cuts.

Ten-year fixes up to 65 per cent LTV came down from 2.4 per cent to 2.31 per cent.

The average two-year fixed across all LTV tiers remained unchanged at 2.43 per cent as did the average three-year fixed at 2.52 per cent and the average five-year fixed at 2.74 per cent.

However at certain LTV tiers there was more movement.

Rates for two-year fixes at up to 95 per cent LTV rates increased from 3.23 per cent to 3.26 per cent and five-year fixes at the same LTV rose from  3.53 per cent to 3.57 per cent.

Two-year fixes at 80 and 85 per cent LTV also rose by a couple of basis points, but at 70 and 65 per cent LTV they dropped slightly.

Five-year fixes at up to 65 per cent LTV also dipped from 2.27 per cent to 2.24 per cent.

Moneyfacts finance expert Rachel Springall says: “Whilst the average two and five year rates overall remain unchanged this week, there has been a mix of increases and reductions by some lenders. 

“Yorkshire Building and Santander made some reductions but the latter also increased rates in its range. 

“Elsewhere, Post Office Money increased rates by up to 0.66 per cent on selected five-year fixed deals and up to 0.49 per cent on some two-year fixed options.

“Overall there appears to be a slowdown in movement on mortgages this week, but with some rates on the rise it may be a good idea for borrowers to compare deals in case more arise in the coming weeks.”