The majority of average fixes nudged higher in a “subdued” seven days this week, Moneyfacts data shows.
The average rate for a three-year fix lifted by 1 basis point to 5.06%, while the average rate for a five-year fix rose by 3 basis points to 5.05%.
However, the average rate for two-year and 10-year fixes are unchanged at 5.32% and 5.00%, respectively.
Two-year fixes
The biggest falls in this term saw the 65% LTV average rate slip by 5 basis points to 5.28%, while the 70% LTV average rate was the biggest riser, lifting by 2 basis points to 5.65%.
The 95% LTV average rate fell by 1 basis point to 5.84%, and the 90% LTV average rate was unchanged at 5.61%.
Three-year fixes
The 65% LTV average rate was the biggest faller, tumbling by 17 basis points to 5.01%, while the 70% LTV average rate was the biggest, riser climbing by 14 basis points to 5.33%.
The 95% LTV average rate slipped by 2 basis points to 5.67%, and the 90% LTV average rate was down by 4 basis points to 5.22%.
Five-year fixes
The biggest reductions in this term saw the 50% LTV average rate fall by 8 basis points to 5.39%, while the 70% LTV average rate was the biggest riser, lifting by 8 basis points to 5.45%.
The 95% LTV average rate and the 90% LTV average rate both edged 1 basis point lower to 5.24% and 5.22%, respectively.
10-year fixes
The 50% LTV average rate fell by 5 basis points to 5.04%, while the 75% LTV average rate nudged higher by 1 basis point to 4.62%.
All other fixes at this level were unchanged.
Moneyfacts finance expert Rachel Springall says: “The pricing activity within the residential mortgage market has been much more subdued this week compared to previous weeks, however, there has been a few fixed rate reductions of note.
“Virgin Money reduced selected fixed rates by up to 23 basis points, Nationwide reduced selected fixed rates at 90% and 95% loan to value by up to 20 basis points, Halifax reduced selected fixed remortgage rates by up to 36 basis points which are available through intermediaries, Coventry Building Society cut selected fixed rates by up to 25 basis points.
“Nottingham Building Society cut max 90% LTV mortgage rates by up to 16 basis points, Progressive Building Society reduced selected fixed rates by up to 20 basis points and Leeds Building Society also moved to reduce selected fixed rates by up to 31 basis points as well as launching some new deals onto the market.
“Lastly, Metro Bank, Pepper Money, Nationwide and TSB made increases to their standard revert rates (standard variable rates/standard mortgage rates).
“Overall, we may see more activity in the weeks to come, but it is still positive to see some big brands make cuts to their fixed ranges this week.”
