Providing global connectivity with high speed and guaranteed quality at any place and any time is now becoming a reality due to the integration and coordination of different radio access technologies. The internetworking of existing networks with diverse characteristics has been considered attractive to meet the incredible development of interactive multimedia services and ever-growing demands of mobile users. Due to the diverse characteristics of heterogeneous networks, several challenges have to be addressed in terms of quality of service (QoS), mobility management and user preferences. To achieve this goal, an optimal network selection algorithm is needed to select the target network for maximizing the end user satisfaction. The existing works do not consider the integration of utility function with mobile terminal mobility characteristics to minimize ping-pong effects in the integrated networks. An integrated multicriteria network selection algorithm based on multiplicative utility function and residual residence time (RRT) estimation is proposed to keep the mobile users always best connected. Multiplicative weighted utility function considers network conditions, application QoS and user preferences to evaluate the available networks. In this paper, the proposed scheme is implemented with two mainstreams (pedestrian users and high-velocity users). For high-velocity users, RRT and adaptive residence time threshold are also considered to keep the probability of handover failures and unnecessary handovers within the limits. Monte-Carlo simulation results demonstrate that the proposed scheme outperforms against existing approaches.