Mortgages: is it time to fix? Should you consider remortgaging?

With mortgage rates staying low for the time being, should you consider remortgaging?
It is hard to believe that the bank base rate has been 0.5% for nearly three years (since March 2009). Although inflation for November was 4.8% – which is well above the Bank of England target rate of 2% – the December 2011 meeting of the Monetary Policy Committee voted to keep the interest rate at just 0.5%. Many predict that it will remain this low for still some time to come.