Mehrdad Yousefi, Head of Intermediary Mortgages at Alliance & Leicester: "It was widely expected there would be no change in the base rate this month, and many agree that base rates are likely to stay the same until the New Year.
"This is yet more good news for brokers, who have already experienced a recent surge in mortgage volumes in the last couple of months. Regardless of whether there is any change in the rate next month, brokers look set to finish 2005 on a strong note.
"Economists are likely to look closely at consumer spending patterns after Christmas to assess the impact of a possible rate change. If retailers do not report good sales levels over the festive period, then a rate cut could be on the cards."
