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 The Bank of England's Monetary Policy Committee (MPC) has held rates at 5.75 per cent but many analysts believe that this is merely delaying the inevitable.
Following five rate rises in 11 months, taking the base rate to a six-year high of 5.75 per cent, the MPC clearly felt it was time to let the dust settle slightly.
However, financial analyst Global Insight is predicting that rates will rise again in the autumn, stating that it expects the base rate to hit six per cent in October.
Threadneedle Investments has made a similar prediction, stating that it "wouldn't rule out another hike before the year-end".
Lloyds TSB has warned that it is "still early days in the interest rate cycle" and future rises could be on the cards.
Any future rises will spell trouble for homeowners who are in financial difficulty and many people will be looking to sale their home quickly in order to avoid getting into difficulties.
Julian King of National Homebuyers says that a further rise is a certainty before November's meeting. "Thousands of homeowners are already facing ruin at 5.75 per cent.
"The prospect of a six per cent or even a 6.25 per cent will be devastating."
National Homebuyers are the UK's leading fast property purchase firm, guaranteeing an offer to buy any property in the UK for homeowners who want a quick sale.
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