House prices have slowed tremendously and that has all but completely stifled the fears of a possible UK housing market bubble.  That is good news but those homeowners that have been rubbing their hands together and chuckling aloud as they watched their equity levels boost are likely wondering what happened.  While property values will not be on such as steep an incline as they were a few short months ago, they are expected to keep on a positive upward growth but at a much steadier pace.

Much of the slowing in the housing market is thought to be buyers walking away from the higher prices.  A mortgage deal at just a slightly higher level can mean thousands of pounds in interest and it will require a much larger deposit from the buyer.  Rather than pay more, it is thought that many have walked away and are waiting for sellers to become more aggressive and willing to lower their price. 

Surprisingly, lower interest rates which are usually the incentive for homebuyers to come back to the market are being ignored.  Some of the mortgage deals currently available are much lower than seen in the past few years.  Yet, demand is still low and that is causing lenders to become more competitive with their deals to gain the attention of both homebuyers as well as homeowners seeking a remortgage.

While demand is low, the deals should stay cheap for mortgages and remortgages.  There are factors that could cause lenders to pull the best deals so if saving money and grabbing a low interest fixed deal is important, there might not be a better time to seek a mortgage or remortgage than now.