Financial facts – The Official Gazette of Real Estate Finance – Z News

The average two-year fixed rate is now 5.46%. Down from 5.51% last week.

The typical five-year fixed rate is currently 5.51%, down from 5.48% one week ago.

The mortgage type that saw the largest average rate reductions was two-year fixes to 65% LTV, with a 16 basis point reduction to 5.72%.

Cuts of 15 basis points were made to three-year fixes to 85% LTV, which now stand at 5.17% on average, and five-year fixes to 65% LTV, which now stand at 5.21%.

The largest increase was made on five-year fixes to 100% of LTV, with an average rise of 28 basis points to 6.05%.

Moneyfacts finance expert Rachel Springall said: “Fixed rate mortgage cuts took precedence this week, with 20 lenders passing cuts, while others launched new deals or updated existing ranges. Building societies made some notable price moves and competition was particularly strong at higher loan-to-value levels.

“Lenders have continued to make healthy cuts to fixed mortgage rates in recent weeks, as lower swap rates weigh on mortgage rates.

“Another week of widespread interest rate cuts, especially on deals available to small deposit holders, will undoubtedly be welcome.

“Although the improvement in global market sentiment over the past few weeks has led to swap rates falling, funding costs remain highly sensitive to geopolitical tensions. Any renewed market volatility could quickly impact swap rates and slow the pace of further mortgage interest rate cuts over the coming weeks.”

Barclays made selected cuts to fixed interest rates of up to 66 basis points, with Halifax and Lloyds Bank cutting up to 15 basis points.

Nationwide Building Society has cut its fixed interest rates by up to 19 basis points. Yorkshire Building Society has also reduced its fixed interest rates by up to 20 basis points.

Building societies have been very active throughout this week. West Brom Building Society has cut fixed fixed rates by up to 18 basis points, while Leeds Building Society has cut fixed rates by up to 21 basis points and launched new five-year 80% and 85% LTV products.

Fixed price changes

• Mortgages Agreement – Fixed prices reduced by up to 30 bits per second.
• AIP (NI) – Fixed prices reduced by up to 19 bits per seconddespite increasing product specific LTV by up to 95% 4 bits per second.
• Target Bank – Fixed prices reduced by up to 15 bits per secondAlthough some products rise by up to 10 bps.
• Atomic bank – Fixed prices reduced by up to 20 bps.
• Bank of Ireland Brokers – Fixed prices reduced by up to 40 bits per second.
• Bank of Ireland in the United Kingdom – Fixed prices reduced by up to 40 bits per second.
• Barclays – Fixed prices reduced by up to 66 bits per second.
• Coventry Building Society – Increase fixed prices by up to 7bps.
• Danske Bank – Fixed interest rates on selected jumbo loans have been reduced by up to 16 bits per second.
• General H – Selected fixed prices increased by 5 bits per second.
• Halifax – Fixed prices reduced by up to 15 bits per second.
• Kensington – Fixed prices reduced by up to 40 bits per second.
• Leeds Building Society – Fixed prices reduced by up to 21 bits per second.
• Lloyds Bank – Fixed prices reduced by up to 15 bits per second.
• National Building Society – Fixed prices reduced by up to 19 bits per second.
• Pepper money – Fixed prices reduced by up to 139 bits per second.
• Emirate Building Society – Fixed prices reduced by up to 17 bits per second.
• Scottish Building Society – Fixed prices reduced by up to 35 bps (Excluding 95% unchanged LTV products).
• Skipton Building Society – Increase fixed prices by up to 14 bits per second.
• United Credit Bank – Fixed prices reduced by up to 100 bps.
• Virgo money – Fixed prices reduced by up to 16 bits per second.
• West Bromwich Building Society – Fixed prices reduced by up to 18 bits per second.
• Yorkshire Building Society – Fixed prices reduced by up to 20 bps.

Track and monitor variable discounted price changes

• Target Bank – Reduce tracking rates by up to 40 bits per secondAlthough some products rise by up to 41 bits per second.
• Environmental Building Society – Variable price discounted by a percentage 50 bps.
• Hinckley and Rugby Building Society – Variable prices reduced by up to 25 bits per second.
• National Building Society – Reduce tracking rates by up to 12 bits per second.
• Skipton Building Society – Increase tracking rates by 11 bits per second.
• United Credit Bank – Reduce tracking rates by up to 100 bps.
• Virgo money – Reduce tracking rates by up to 15 bits per second.
• Yorkshire Building Society – Increase tracking rates by 3 bits per second.