The average rate for a two-year fix rose 17 basis points, to 3.61%, and the average rate for a three-year fix gained 19 basis points, ending the week at 3.91%.
Meanwhile, an 18 basis point rise saw the average rate for a five-year fix move to 3.75% and the average rate for a 10-year fix increased by 13 basis points, to 3.82%.
Rate rises . were legion, occurring at every LTV bracket. At the higher end of these, at 95% LTV, the average rate rose 16 basis points to 3.85%.
And at 50% LTV, the average rate put on 20 more basis points, leaving it at 3.81%.
At 95% LTV, the average rate increased by 28 basis points, to 3.84%.
The largest increase occurred at 65% LTV, however, w. a 48 basis point bump saw the average rate come to 5.61%.
Here the biggest rise took place at 65% LTV, too. A 20 basis point jump saw the rate settle at 4.24%.
At 95% LTV and 90% LTV, an 18 basis point increase took the respective average rates to 3.91% and 3.73%.
This usually placid area of mortgages witnessed some big changes this week. At 95% LTV, the average rate moved up 40 basis points, to 4.98%.
Meanwhile, the average rate at 90% LTV rose to 4.44% – a 21 basis point change.
And at 75% LTV, the average rate gained 14 basis points to come to 3.65%.
Moneyfacts finance expert Eleanor Williams says: “Following from last week’s base rate rise, provider updates within the residential mortgage sector have continued to paint similar picture to that seen in recent weeks.
“Increases to standard variable and revert rates have kicked off again, with Santander, The Co-operative Bank and Platform, Aldermore, Digital Mortgages by Atom Bank and Generation Home amongst the providers to hike their SVRs by 0.25% this week. Variable tracker product amends have come from Santander and Nationwide Building Society, who have both increased theirs in line with base rate as well.
“Some noteworthy increases to fixed rate ranges are continuing to roll in, seeing the majority of the average rates climb even further this week. Bank of China (UK) put fixed rate products up by a notable 1.00%, and Principality Building Society made significant rises of up to 0.89% to its fixed rates this week, as well as launching a handful of new deals.
“Barclays Mortgage has applied increases of as much as 0.76% to its 10-year fixed rates and up to 0.60% on two- and five-year fixed products.
“Elsew., The Co-operative Bank and Platform both relaunched residential product ranges after temporarily withdrawing them earlier this week, with rates increased by up to 0.73%. Accord Mortgages put up fixed rates by up to 0.60% and discounted variable rates by 0.15%, while TSB made rate rises of up to 0.60% on remortgage deals and of 0.35% on selected five-year fixed rates, and both Halifax and Lloyds Bank have made increased of up to 0.50% to selected options.
“NatWest Intermediary Solutions applied rises of up to 0.46% across a number of fixed rate deals and Virgin Money has put up its fixed rates by 0.40%.
“The level of product choice for has dropped again this week, with a number of the building societies in particular amending their offerings. Tipton & Coseley Building Society withdrew all fixed rates, Scottish Building Society cut five-year fixed rates (except RIO products), and Saffron, Coventry, Nottingham and Newcastle Building Society all pulled various deals from their ranges.”