NatWest Group PLC (LSE:NWG) was among major lenders to scale back mortgage prices this week as rates fell every day.
According to Moneyfacts, interest on the average two-year fixed mortgage rate fell below the 5.5% mark once again, having sat at 5.4% in early November.
Come Friday, interest on the typical two-year fix was at 5.4894%, against 5.5197% a week ago.
NatWest on Thursday announced cuts of up to 0.39% across its two and five-year fixed-rate mortgage products.
Coventry Building Society then said on Friday that rates on all of its fixed-rate mortgages would be reduced, including cuts of as much as 0.26% on residential deals.
“This week has been mostly positive,” Orchard Financial Advisers managing director Ben Perks commented.
“For the first time since the Budget, we’ve seen more reductions than increases.
“It definitely feels like the winds are changing and hopefully they’ll continue to do so.”