For my part, my mortgage rate was fixed for 5 years and that contract ends in May next year. I just hope that these ridiculously low rates that are prevalent just now will stick around long enough that I can fix into another long term low rate in May, and not have to worry for some time that rates could very easily, and in fact are likely to, go into double digits at any time and with little notice. I would refinance right now to a longer term fixed rate, if it wasn't going to be penally expensive to terminate the current contract ahead of its time.
It seems that Stephanie Flanders thinks along similar lines.
Thursday, 28 May 2009
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