The Bank of England has again given homeowners a reason to celebrate choosing to leave interest rates at 0.5 per cent.
The respite for home owners was no surprise with the Bank of England holding rates for the past three years.
Since the start of the year Halifax, the Bank of Ireland and other lenders fed up with the stagnant rates announced their own interest rate rises.
But this did not sway the Monetary Policy Committee which swiftly made the decision to keep the low base interest rate today.
While homeowners can celebrate the low base interest rate is not helping anyone looking to boost their interest rich savings accounts.
But with the current financial climate and a stagnate housing market it seems there will be more time to pass before interest rates move.
The Bank Rate was first reduced to 0.5 per cent in March 2009.
House prices were at their highest point in 2007 before a market crash left everywhere except prime property in London reeling to regain confidence.