According to mortgage market news, mortgage rates on tracker deals have hit a new low during early 2010. The shift in rates has provided a boost for mortgage borrowers and could help to stimulate the housing market.

The average rate charged on tracker mortgages for borrowers with a 25 per cent deposit fell to just 3.63 per cent during January. Meanwhile, rates on two-year fixed-rate mortgages also fell to six year lows.

There were also further signs that the mortgage market is changing, with mortgage lenders thought to be freeing up their lending to those borrowers with smaller deposits . The previous situation of high loan to value mortgages is unlikely to return, but more 90 per cent mortgages are becoming available.