Is 2015 the best time to get a mortgage?
The cheapest mortgages are now even lower than the interest rates offered on some savings accounts with prices so low that there's 25 home loans priced below the best easy access savings deals.
That is, of course, if you can't wait for the property bubble to burst, but close that is, is anyone's guess.
Brian Murphy, of brokers Mortgage Advice Bureau, said: "The next six months are shaping up to be the best-ever window to secure a low interest rate if you are looking to buy or remortgage."
HSBC put their lowest two-year fixed rate down to 1.19%, while the Chelsea Building Society is currently offering a five-year fixed rate at 2.19%. However, there is a catch - if you're going to utilise these low rates, you're going to need to put down a large deposit (normally somewhere around the 40% mark of the property's value), which means, if you're a first time buyer, you might need rich relatives, or you're buggered.
There's other problems for buyers to consider. A lot of borrowers are really struggling with the new, tougher application rules under the mortgage market review, which basically assesses whether or not you can afford a mortgage.
If you have a smaller deposit, the average rate on a 10% mortgage is currently around the 3.79% mark. If you have a 5% deposit, then it is higher at 4.79%.
Thanks to slow global growth, low inflation, slow growth in wages and a host of other financial factors in the market, is is thought that these interest rates will have to stay lower for longer. Some are suggesting that they'll stay at this level for the rest of 2015.
So where at the best rates? Well, you're advised to check out HSBC, who have their two-year fixed rate at 1.19% with a £1,499 fee and a 40% deposit. Chelsea Building Society have their rate of 1.24% which comes with a £1,675 fee while the Post Office has a two-year fixed rate at 1.37% with a £1,995 fee and the Norwich & Peterborough Building Society have a deal at 1.39% with a £795 fee.
Happy mortgage shopping, if you've got some savings hidden away somewhere.