Mortgage Best Buy Deals

Bank of England Maintains Base Rate at 0.5% Again This Month – Good News for Mortgage Interest Rates

Bank of England Interest Rate Decision Today, 4th February 2010

It is a huge relief for anyone with a Variable Rate Mortgage or a Tracker Mortgage to see that the Bank of England has once again left the Bank Base Rate at 0.5% this month.

In announcing the decision, the summary on the Bank of England website states ‘In the light of the Committee’s latest Inflation Report projections and in order to keep inflation on track to meet the 2% inflation target over the medium term, the Committee judged that it was appropriate to maintain Bank Rate at 0.5%…’

Of course, those with Fixed Interest Rate Mortgages can sleep easy anyway.

However, it is always worth keeping a keen eye on the Best Buy Mortgages available, as there is always a steady stream of Mortgage Best Buy Deals being announced.

The last change in the Bank Base Rate was a reduction of 0.5 percentage points to 0.5% on 5 March 2009.