Moneyfacts data shows that mortgage rates only climbed very slightly over the month, by 0.02 percentage points.
That took the rate on an average two-year deal to 4.98%, and to 5.02% for the average five-year mortgage.
More than eight in 10 mortgage customers have fixed-rate deals. The interest rate on this kind of mortgage does not change until the deal expires, usually after two or five years, and a new one is chosen to replace it.
Hundreds of thousands of potential first-time buyers also hope to get a place of their own with their first mortgage. All would welcome low mortgage rates.
Rachel Springall, from Moneyfacts, said that the latest situation might well “disappoint” borrowers.
“Volatile swap rates and a cautionary approach among lenders have led to an abrupt halt in consecutive monthly average rate falls,” she said.
Swap rates reflect the market’s view of which direction the Bank of England’s interest rates will go, so lenders use them to set their own rates.
“Lenders have responded cautiously, with some edging rates higher and the overall average ticking up slightly,” said Simon Gammon, managing partner at mortgage advisers Knight Frank Finance.
“This is unlikely to mark the start of a sustained rise in borrowing costs, but rather a prolonged plateau while the outlook becomes clearer.”
