The monthly meeting of the Bank of England Monetary Policy Committee was held last Thursday. Results of the meeting did not alter from what was forecasted over the last thirty days. Interest rates were held at the current level of 0.5% after a vote of 6-3 in favor to leave the standard base rate unchanged. Although the current level of inflation sits above the goal of 2%, housing experts were not expecting a rate hike at this time. House sales did increase in May on figures from April.

The delay in interest rate increase means a lot to those seeking an original loan or considering remortgage. Interest rates remain at historic lows and housing specialists in and around the market still urge those in the market to move home or remortgage to do so whilst the rates are so low. Lenders are offering many deals which provide a better financial future for households, especially in regard to remortgage.

Remortgage now remains quite a wise move for home owners looking to not only obtain a lower monthly mortgage payment through a lower interest rate, but also secure a fixed rate deal for the future which provides protection against rising interest rates. There are fixed rate deals offered currently with various lengths of maturity.

There were hints at a potential rate rise coming in the month of August this year, but so far nothing has surfaced from the Bank of England. With inflation sitting above the goal level of 2%, some feel the possibility of a rate rise exists at every monthly meeting of the MPC.