Tbf mine didn't sway me more one or the other - he just gave the pros and cons of each and left the decision to me. If the 2% rates were closer to 5% then I'd likely choose that.
Mortgage Rate Rises
- Thread starter glenimp617
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Sorry if my question seemed confrontational
Not at all, just questionning how you know rates are going to drop?Sorry if my question seemed confrontational
Sorry I meant to quote @Andr3w, blame the Guinness, it’s gold cup day.
I never said they were definitely going to drop --- I supposed they were because of the SVB/banks failing because of the rate rises. There was a question mark after all.Not at all, just questionning how you know rates are going to drop?
It is likely the Fed will stop raising rates now that the point of banks failing has been reached.
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Ah I'm being good and saving mine for later
Soldato
I posted a good few weeks back I thought it was best to go 5 year, fixed. I think I have 3.95% lined up. My logic is... I think a 2 year option was about 5%, so if I took that, I would need the rate to be around 3% for the next 2 year deal, in 2 years time... (Doesn't work exactly, as 5 years vs 4 years, but maybe the logic is apparent.) What are the chances a 2 year deal in 2 or 3 years, would be down at 3%?
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I can't wait till mines all paid off, then I don't ever have to worry about mortgage rates.....one day!
Soldato
Only 22 years to go for me............. 
Soldato
Soldato
our mortgage deal is up in 2 years. then with 20 years left of the term time going to change it to 15 instead. Then overpay on top of that hopefully.
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I reckon with a bit of luck I can get mine paid off in 8. It would be sooner, but we need a new bathroom and kitchen.
Soldato
UK inflation rate in surprise rise to 10.4% as salad crisis pushes up prices
Increase confounds forecasts of a modest dip and adds to pressure on Bank of England to raise interest rates
www.theguardian.com
O no!
13 years left on mortgage but I called the bank yesterday and Im going to try and get it paid off next week.
Been overpaying like crazy for the past few years and now with all this uncertainty. I want to clear it and be done.
I really don't understand how this is an effective measure of anything. Of course prices go up if there is a one off event constraining supply (salad items referenced in that article).UK inflation rate in surprise rise to 10.4% as salad crisis pushes up prices
Increase confounds forecasts of a modest dip and adds to pressure on Bank of England to raise interest rates
O no!
I wager the private sector perpetual growth fantasy is becoming too difficult to achieve in the traditional way, so they are incentivised to just keep inflation as high as possible as a means to increase prices. It'd explain the record profits!
They can blame salad if they want but look at core CPI with strips out food and energy, 6.2% vs 5.7% forecast. Its a sign of underlying inflation heating up, but lets blame the lettuce.
Soldato
We need to import more boat people, surefire way to increase GDP.
Bank rates are not coming down, no matter how many Swiss banks are apparently on the wrong side of liquidity. UK banks are seemingly quite healthy.
Bank rates are not coming down, no matter how many Swiss banks are apparently on the wrong side of liquidity. UK banks are seemingly quite healthy.