According to the latest Moneyfacts figures, which came out today, the average two-year fixed rate was pegged at 6.78 per cent, which is up from 6.75 per cent on the previous working day.
This compares to 3.74 per cent in the same period last year.
The firm added that the average five-year fixed residential mortgage rate today is 6.3 per cent, an increase from 6.27 per cent on the previous working day.
Moneyfacts said the average five-year fixed rate a year ago was 3.89 per cent.
The company said there are currently 4,312 residential mortgage products available on the market, which is down from 4,335 on the previous working day.
Last year, the residential mortgage count was 4,556.
On the buy-to-let side, the average two-year fixed rate was 6.93 per cent, slightly down from 6.97 per cent on the previous working day.
By comparison, the average rate was 4.1 per cent last year.
Moneyfacts said the average five-year fixed buy-to-let rate is 6.74 per cent today. This is up from an average rate of 6.7 per cent on the previous working day.
Last year, the average five-year fixed buy-to-let rate was 4.37 per cent.
The report added that there were currently 2,397 buy-to-let mortgage products on the market. This is an increase from a total of 2,204 on the previous working day.
The total product count last year was 2,746 deals.
The company said today’s average two-year tracker rate is 6.03 per cent. This is the same average rate as the previous working day.
The average standard variable rate as of 1 July 2023 is 7.67 per cent.
