The trend for lower and lower mortgage rates continues, despite a recent slow-down in falling rates, latest figures show.

But the question is, with lots of speculation about the Bank of England increasing the base rate, how long can it last?

And is it a good time to be fixing your mortgage rate, especially if you are currently on a variable rate or coming to the end of a fixed rate deal?

According to Moneyfacts data, the average two-year fixed rate and two-year variable rate have both fallen to new record lows.

Average two-year fixed rates fell from 2.55% in July 2016 to 2.31% in January 2017 and are currently at 2.26% this month. Similarly, average two-year tracker rates are now 1.82%, down from 2.01% a year ago and 1.98% in January 2017.

I advocate always keeping an eye on your mortgage as it’s possible to be paying more than you need to if you are stuck on a high variable rate, for example.

There are lots of products out there and it is certainly worth shopping around to see if you can improve on your current situation.

With uncertainty about interest rate rises and of course nobody quite knowing what impact Brexit will have on the economy, it is certainly tempting to be fixing your mortgage at a nice low rate for two or maybe five years until we see how things work out.