Riz Malik, director at R3 Mortgages

“Even with this data, I would be surprised if the Bank of England does not raise interest rates again at least once in the coming months. Lenders are lowering rates to attract new business by reducing the margins they previously built into their products. 

“This trend will continue but do not expect mortgage rates to return to the good old days.
 
"If the Bank of England's forecast that inflation will fall dramatically by the end of this year is correct, this could result in a reversal of rate increases. This helps to explain why many people are still hesitant to take long-term fixed rates in the current market."