Is it worth playing the waiting game in the hope of a better mortgage deal?

Homebuyers face increasing uncertainty which means making some tough decisions. Photograph: Sean Smith/The Guardian

Would-be and existing homeowners, looking for some sense of certainty in the mortgage market, have been left bitterly disappointed.

Last week’s UK inflation figures, which showed a slower-than-expected decrease, have sparked expectations that the Bank of England will raise interest rates above 5% by the end of the year – meaning that those borrowing to buy, or renewing their mortgage, soon will face significant cost increases.