According to recent data provided by Which? Web site, fixed rate mortgages are being searched out and compared by a ratio of 3 to 1. Almost 80% of all searches from the start of fall 2014 to the end of November 2014 were concerned with determining good deals which were available as fixed rate deals. Only about 10% were concerned with tracker type deals and just barely more than 1% were focused on variable rate type deals. Many homeowners are now making a determination of whether or not to consider selling their homes in the New Year or possibly remortgaging them.

An air of uncertainty is currently looming over the UK housing market as the years turn over and a fresh selling season and moving season, for that matter, begin. Homeowners are anxiously awaiting news of the base rate potentially increasing, or not. This important information has led many homeowners to sit on the fence about home purchase and even to think twice about remortgaging now or wait for definite news on the fate of the base rate. Waiting could lead to obtaining a remortgage could lead to a more attractive interest rate. Although, many current deals are quite attractive due to the competition for lending which exists at most institutions.

The Bank of England is currently estimating a hike in base rate around the end of the coming year, at the minimum. Some economists are echoing the sentiment, but many are also going beyond 2015 and suggesting a hike will not occur until the following year, 2016.

But house owners should not delay too long. The market is leaning towards the unstable side and now could be the perfect time to remortgage or obtain an original mortgage loan of some kind.