Homeowners are preparing for an imminent hike in mortgage repayments with a further rise on the cards early next year.
The Bank of England is widely expected to raise interest rates from 4.75% to 5% on Thursday following its first increase in two years in August.
And economists now believe that there could be another move next year - perhaps in February - as the Bank's Monetary Policy Committee (MPC) looks to bring rising inflation back under control.
Philip Shaw, of Investec Securities, said: "A 0.25% hike in official rates to 5% looks virtually unstoppable on Thursday. The real debate is where rates head beyond November."
Mr Shaw said he still saw 5% as the peak but added that he was "less confident" about this than before as concerns over rising inflation persist.
"The MPC will need a dose of soothing inflation news to calm its nerves if rates are going to climb no further," he said.
"We believe that this will probably happen. Indeed our main case view is that pay deals will stay low, the US economy will show few signs of picking up again, and that UK consumer trends remain uncertain.
"But we cannot deny that there is a risk that rates rise to 5.25% and possibly beyond if the MPC does not like what it sees on the inflation front, and although our central case remains that 5% will prove to be the top of the cycle, we are less confident now that this will be the case."
A rise in interest rates would be bad news for homeowners and borrowers struggling to pay off mortgage, loans and credit cards.
Last week, Government figures showed that a record 27,644 people went insolvent during the summer - more than 55% up on the same period last year and leaving the UK on target to hit 100,000 insolvencies in 2006 for the first time.
