The percentage of people choosing fixed rate over variable rate mortgages (purchase and remortgage) has increased for the fourth month in a row, rising from 63.6% in October to 65.7% in November, according to the latest Mortgage Advice Bureau/Coreco National Mortgage Index.

This compares with just 46.3% of applicants choosing fixed rate deals back in January 2010.

However, the number of people choosing fixed rate mortgages is significantly below the 90% who chose fixed rate over variable rate products back in May 2009.

Average LTVs on purchase mortgages dropping slightly from 70.4% in October to 70.1% in November. Average purchase LTVs have not gone above 71% during 2010. Meanwhile, the average loan size for purchase mortgage applications increased from £123,982 in October to £126,162 in November, a rise of 1.8%.

The average deposit put down by a purchase mortgage applicant in November was £37,722 compared to £36,699 in October.

In terms of total mortgage applications (purchases and remortgages), activity was up 23.4% for the year to date compared to the same period in 2009. However, mortgage activity, month-to-month, continues to be unpredictable, as a tough year for the mortgage market as a whole draws to a close.

November 2010 saw purchase mortgage applications increase by 4.6% compared to October 2010. This follows an 11.4% fall in October compared to September 2010 and a 14% rise in September compared to August 2010. As with the major property market indices, this ‘up one month, down the next’ trend is indicative of an uncertain market and mortgage activity that remains at historically low levels. Purchase mortgage applications in November 2010 were 1% down on applications in Nov 2009.

Remortgage activity fell by 6.5% in November compared to October. The average LTV on remortgage applications rose only marginally from 55% in October to 55.1% in November, while the average remortgage loan size increased by a substantial 27.5% in November to £166,899 compared to £130,913 the previous month.

Brian Murphy, head of lending at Mortgage Advice Bureau, said: “With the almost month-on-month reduction in fixed rate pricing during 2010