Over the past three years, average two-year fixed rates across high and low loan to values (LTV) were lower in December than two months earlier in October, Moneyfacts data showed.
And the same trend is evident for five-year fixed rates, as lenders re-price to hit lending targets and to appeal to Spring buyers.
For example, the typical two-year fix at 60% LTV fell to 2.2% in December 2014 from 2.4% in October of the same year, according to Moneyfacts.
And the average five-year 90% LTV deal dropped from 3.53% in October 2016 to 3.48% two months later.
Will rates still drop in December 2017?
Last month’s Bank of England base rate rise suggests 2017 could buck the trend.
Yet a number of lenders have recently cut rates, including Virgin Money, Post Office Money, Halifax and Principality Building Society.
Charlotte Nelson from Moneyfacts said: “While fixed rates are gradually rising, it still remains to be the case that the market is competitive and lenders are still launching some decent offers to entice new borrowers.
“Not only do lenders have to appease existing borrowers with some well-priced deals so that they don’t lost their custom, many lenders are also under pressure to lend out to new borrowers and the end of the year is edging ever closer.
“Lenders may be coming towards their end of the year targets, so we are still bound to see some best buy deals before 2018 hits.”