Fat loss and weight loss are two separate things, you'll have swings in weight loss but your fat loss is constant as long as you keep a caloric deficit. After you lose the initial water weight you'll slowly regain it as your body adapts to keto, this means that you can have rapid weight loss during the first three weeks and then a really slow loss (or plateau) for several weeks, sometimes months, when you gain back those 5-10 lbs of water. During all this time you're still losing fat if you're keeping a caloric deficit, the fluctuations is body weight (water, food in the digestive system) are just masking the fat loss.
Say you're at a caloric deficit of 500 kcal, the first three weeks you'll lose 21 * 500 = 10,500 kcal, which is 10,500 / 3,500 = 3 pound of actual fat. On top of this you'll lose the 5-10 lbs of water, so you might see it as this:
Week 1: 5 lbs (-4 water, -1 fat)
Week 2: 3 lbs (-2 water, -1 fat)
Week 3: 2 lbs (-1 water, -1 fat)
Week 4: 1 lbs ( 0 water, -1 fat)
Week 5: 0 lbs (+1 water, -1 fat)
Week 6: 0 lbs (+1 water, -1 fat)
Week 7: 0 lbs (+1 water, -1 fat)
Week 8: 0 lbs (+1 water, -1 fat)
Week 9: 0 lbs (+1 water, -1 fat)
Week 10: 0 lbs (+1 water, -1 fat)
Week 11: 1 lbs ( 0 water, -1 fat)
...
So you lose "weight" the first weeks as you lose both water and fat, and then at the fifth week you stall as you start gaining back the 6 lbs if water. If you gain back 1 lb of water weight per week you'll have six weeks of stalling before you start losing 1 lb per week again, and by that point you've actually lost those 10 lbs in real fat (four weeks of weight loss, six weeks of stalling, but actually losing 1 lbs of fat per week). You might gain back more water, or less water, or more rapidly, or less rapidly, you might seem to gain weight or only lose after plateaus.