Remortgages are likely to level out for the month of April due to bank holidays and the royal wedding according to analysts. Yet, the numbers are likely to pick up as the weeks go into May and homeowners will again be picking up deals before the interest rate hikes up higher than its now 0.5 per cent. If analysts are right, there will be three months left before the Bank’s regulators will be adding to the interest rate.

Analysts had been expecting an interest rate hike in May prior to the news that inflation had lowered in March. Inflation fell to 4.0 per cent In March from February’s level of 4.4 per cent. The lowering of the inflation rate in March had been unexpected and prompted economists to revise their forecasts that May would be the month for the first interest rate.

Meanwhile, homeowners which had been in a rush to discover and claim the best remortgage deal sought out lenders in larger numbers in the first quarter of 2011. In March the number of remortgages fell a slight fraction from the numbers in February, but were still up when compared to a year ago. Now, homeowners seem to be in less of a rush, but still determined to save their household budget against an attack from a higher interest rate and are seeking remortgages, just not in such a rushed hurry. Fixed deals are still the most popular.

May will be the first month the Bank of England’s Monetary Policy Committee will have the GDP from the first quarter of the year to review. This had been the primary reason that economists expected an interest rate to increase in May. While some forecasters have revised their month for an increase to August, homeowners should not become to confident, for anything can happen when the regulators meet, and some analysts have left their forecast for May.