Average two- and five-year fixed rates remained broadly flat weekly at just under 6%.
The latest weekly rate watch figures from Moneyfacts show that the average two-year fixed rate fell by one basis point to 5.96%, while the average five-year fixed rate was unchanged at 5.99%.
The average three-year fixed interest rate remained constant at 5.74%.
This came after a week of mixed pricing moves by lenders, with some cutting interest rates and others raising costs.
Adam French, head of consumer finance at Moneyfacts, says: “The mortgage market took a breather this week, with several major lenders cutting selected mortgage interest rates after weeks of successive increases.
“However, repricing remained mixed, with some lenders raising rates and others withdrawing products.
“Several major lenders have made select cuts, including HSBC, NatWest, Royal Bank of Scotland and First Direct.
“This suggests some easing in pricing pressures, although it is too early to declare the start of a sustained downtrend.
“Atom Bank, Bluestone Mortgages, Virgin Money and Yorkshire Building Society have increased their cap rates.
“Accord Mortgages and Barclays also achieved increases alongside reductions, as individual product changes remain selective.”
French notes that there are about 25 fixed-rate deals of less than 5% available now, excluding those limited to specific locations.
However, they are all capped at 60% LTV and many of the products are aimed at second-time buyers.
He says it is encouraging to see some lenders continuing to compete in the high loan-to-value space, with Newcastle Building Society reducing fixed interest rates set at up to 95% LTV and introducing new 90% and 95% LTV products.
Leek Building Society and West Brom Building Society have also introduced products targeting borrowers with small deposits.
Notable changes this week:
Mortgages Agreement – Reducing fixed interest rates by up to 26 basis points, although increasing some by up to 10 basis points; Product expiration dates have been extended.
Atomic bank – Increase specified fixed interest rates by up to 15 basis points.
Barclays – Reducing fixed interest rates by up to 10 basis points, while other interest rates increased by up to 20 basis points; Tracking rates increased by up to 6 bps. New fixed rates for purchase and refinancing have been launched.
Bluestone Mortgages – Increase specified fixed interest rates by up to 30 basis points.
First live – Reducing fixed interest rates by up to 15 basis points.
Leek Building Society – Reducing fixed interest rates by up to 64 basis points; A new fixed LTV rate of 95% has been launched.
Marsden Building Society – Selected fixed rates discounted by up to 20 basis points and variable rates discounted by up to 10 basis points; New products were later launched.
NatWest Reducing specified fixed rates by up to 17 basis points and tracking rates by up to 4 basis points.
Newcastle Building Society – Reducing fixed interest rates by up to 16 basis points; New tracking products are launched and high fixed value.
Progressive Building Society – Fixed interest rates reduced by up to 46 basis points and variable rates reduced by up to 65 basis points.
Royal Bank of Scotland Reducing specified fixed rates by up to 17 basis points and tracking rates by up to 4 basis points.
Mortgage lender – Increase specified fixed interest rates by up to 30 basis points.
West Bromwich Building Society – Selected fixed rates discounted by up to 16 basis points and variable rates discounted by up to 29 basis points; A new five-year fixed rate of 95% LTV has been launched.
Yorkshire Building Society – Increase fixed interest rates by 12 basis points.
