Despite market concerns about rising gold yields, there was relatively little movement in mortgage prices this week.
Average two- and three-year fixed-rate mortgage costs fell slightly, falling by 1 and 2 bps. According to Moneyfacts data, respectively. But the numbers show that the cost of an average five-year bond has increased by just 1 basis point. 
Across these different fixed rate terms, we typically saw increases in larger LTV bands, with increases on average for 2-, 3-, and 5-year fixed terms. In contrast, loans with lower LTVs tended to be priced lower.
A number of major mortgage banks, including First Direct and HSBC, have reduced some fixed interest rates (rates have been cut by 30bps and 16bps respectively). TSB lowered interest rates by up to 15 bps, but also increased interest rates by up to 20 bps on some other transactions. Meanwhile, Virgin Money rose by up to 3 basis points on some five-year fixed deals.
Some of the biggest interest rate cuts are United Trust Bank has cut prime range interest rates by up to 70 bps. Accord Mortgage Co. also made more significant rate changes, cutting interest rates by up to 43 bps, raising rates by up to 17 bps and launching new deals at 95% loan-to-value.
Other specialist lenders also cut interest rates, with Empowered Mortgages cutting interest rates by up to 32 bps, Generation H by up to 22 bps and Bluestone Mortgages cutting interest rates by up to 0.10 percentage points.
Building associations are also reviewing the pricing of mortgage deals this week, with West Brom Building Society reducing interest rates on some deals by up to 22bps, while increasing rates on other products by up to 20bps.
Yorkshire Building Society, on the other hand, cut rates by up to 27 bps but made a much more significant rate hike of up to 43 bps. Skipton Building Society has cut interest rates by up to 11 bps and increased other rates by up to 23 bps.
Leeds Building Society has increased interest rates by up to 10 basis points, but has also withdrawn some of its fixed rate products.
But there were also other new deals for brokers to consider, such as West From starting a new deal. Penrith Building Society also offered a new two-year fixed contract at 80% loan-to-value. Kensington also launched New 'Select Special' mortgages with fixed terms of 2 or 5 years.
Rachel Springall, financial expert at Moneyfacts, said: “Some notable deals have surfaced this week, including a two-year fixed rate mortgage deal with Yorkshire Building Society, priced at 5.25% and loan to – Available at 90% value. Includes free valuation, free legal fees and £250 cashback. Product cost is £495.”
