According to Moneyfacts, mortgage rates have barely risen in early 2026, while only four lenders made price changes this week.
Moneyfacts said the average two-year fixed rate is now 4.83%. compared to 4.82% in the latest Rate Watch from Moneyfact.
The typical five-year fixed rate is now 4.91%, up 10 basis points from 4.9% in December 2025.
This week we saw 10 basis points cuts to average five-year interest rates to 65%, 80% and 95% LTV, and 10 basis points increases to two-year fixed rates to 75% and 85% LTV, five-year fixed rates to 85% LTV and 10-year fixed rates to 75% LTV.
The lenders that made interest rate changes this week were:
• Leeds Building Society: selected fixed rate mortgages reduced by a maximum of 20bps and new offers for starters.
• Accord Mortgages: Select fixed-rate mortgages increase by up to 18 basis points or decrease by up to 16 basis points.
• Yorkshire Building Society: Selected fixed mortgages withdrawn.
• Coventry Building Society: selected fixed rate mortgages reduced by up to 30 basis points
Moneyfacts finance expert Rachel Springall said: “It’s unsurprising that it’s been a quiet period in the mortgage market this week, but it’s an ideal time for borrowers to review their deal and prepare if they need to refinance soon. Those who will be refinancing with their existing lender may want to double-check the rates on offer as there have been some significant reductions in December.
“To start the new year, Leeds Building Society has put together some attractive offers, such as those for first-time buyers. As affordability remains a key issue for borrowers, it’s great to see interest rates being reduced, especially for those with only a small deposit. It can make a huge difference.”