The industry seems to be pretty certain that the Bank of England's Monetary Policy Committee (MPC) will cut rates once again on 7 February, adding weight to lenders' contemplations over how to claw profits back on their increasingly popular trackers.
Even though interest rates were frozen in January, lenders including Yorkshire Bank, C&G, Intelligent Finance, Nationwide and Abbey have all increased the rates on their tracker products by amounts ranging from 0.20 per cent to 1.15 per cent.
Trackers taken out earlier than 13 days ago will see the borrower in question paying 0.40 per cent less than an individual taking a tracker out today - yet both will see the same fluctuation in rates should they move up or down.
Denise Harvey, mortgage analyst at Moneyfacts.co.uk explained: “Variable rates linked to the lenders standard variable rate, typically discounted deals, can be tweaked by the lender at anytime. Variable tracker rates, on the other hand, are linked to Bank base rate.
"With these products the lender does not have control of the underlying rate and is therefore more likely to tweak margins prior to a base rate cut in order to increase profits.
“The message for any prospective borrower wanting to take advantage of anticipated cuts in base rate by getting a tracker rate mortgage, would be to act quickly, or face paying much higher rates."
