The MPC decision is today so check the site at 12pm for the decision.
Experts are not expecting rates to change but ahead of the announcement the Council of Mortgage Lenders has put out a useful snapshot of how current outstanding mortgage rates compare with the past.
I have picked out some of the more interesting figures.
Key statistics for outstanding UK mortgages:
Average outstanding mortgage: £110,800
The average outstanding mortgage rate (September 2009) was 3.58 per cent
Average monthly payment on a £110,000 repayment mortgage at 3.58 per cent: £561
Average monthly payment on a £110,000 interest-only mortgage at 3.58 per cent: £328A year earlier (September 2008) the average outstanding rate was 5.81 per cent
Profile of existing mortgage holders: approximately 42 per cent on fixed rates, 58 per cent on variable rate products.
These figures can be compared to new borrowing.
Key statistics for new UK mortgage lending:
Average new mortgage for house purchase (Aug 2009): £112,030Average proportion of income first-time buyers spend on mortgage interest payments (Aug 2009): 15.2 per cent
Average proportion of income home movers spend on mortgage interest payments (Aug 2009): 11.4 per cent
Profile of new mortgage holders: approximately 72 per cent taking out a fixed-rate mortgage, 14 per cent on a tracker mortgage

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