A couple weeks ago I was musing interest rates can only go up and the SVR seems like the worst place to be, if you have a choice.
Today the Telegraph are saying pretty much the same thing.
I do acknowledge that there is currently some competition among the banks to set reasonable fixed rate levels, over 2 years in particular, and that as a result of this it is possible the rates you can get might just go a little lower from here in the short term. Over the medium term, I am confident that both the BoE base rate will increase, and also that banks will start to increase their margin spread over the base rate for their offerings.
VERY glad to be coming off my last fixed rate deal shortly, now closing in on the point where I can painlessly negotiate a new (lower - nice!) fixed rate over two years with the Abbey. Nothing like a bit of certainty for a while to help you sleep at night i reckon. I won't be too surprised to see in a year's time the BoE base rate is pushing 3%, in which case anything with "3." at the start of it now will look like a steal... (Or there is another financial crisis by then and rates go down to 0%, who knows!)
Thursday, 4 February 2010
Mortgage rates: danger dead ahead?
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