# Mortgage interest rates



## P4ULT (Apr 6, 2007)

Evening all

I am hoping to move house but have a bit of a decision to make. I'm currently on a 2.5% interest rate but have the offer of a 4 year fixed rate at 2.89%. I can swap all the mortgage to the new rate or just the new amount I need to borrow. 

What does everyone think is going to happen with the interest rates in the future.


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## bigslippy (Sep 19, 2010)

P4ULT said:


> Evening all
> 
> I am hoping to move house but have a bit of a decision to make. I'm currently on a 2.5% interest rate but have the offer of a 4 year fixed rate at 2.89%. I can swap all the mortgage to the new rate or just the new amount I need to borrow.
> 
> What does everyone think is going to happen with the interest rates in the future.


You're with the Nationwide, 4 years peace of mind, so it's not a bad thing:thumb:


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## Derekh929 (Aug 28, 2011)

No body can predict that but can you honestly think the country could Handel higher rates in the next few years I don't economy far to fragile to risk that's why remit changed at BOE in budget to give more control of rates if inflation goes above target 2%


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## Craighightower (Dec 20, 2012)

Is the 2.5 fixed or is it variable? The other question would be do you value certainty over best price. Interest rates are going up the only question is the time scale and that will be determined by how quickly the economic recovery comes.


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## S63 (Jan 5, 2007)

P4ULT said:


> What does everyone think is going to happen with the interest rates in the future.


I want the person who can accurately predict that to give me his lottery numbers.

Only thing for sure is that they will rise, but when? Anybodies guess.


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## Naddy37 (Oct 27, 2005)

P4ULT said:


> What does everyone think is going to happen with the interest rates in the future.


I was told from quite a reliable source in the finance market, they will probably remain at what they are for at least another year.


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## P4ULT (Apr 6, 2007)

bigslippy said:


> You're with the Nationwide, 4 years peace of mind, so it's not a bad thing:thumb:


Good guess lol



Craighightower said:


> Is the 2.5 fixed or is it variable? The other question would be do you value certainty over best price. Interest rates are going up the only question is the time scale and that will be determined by how quickly the economic recovery comes.


2.5% is variable



S63 said:


> I want the person who can accurately predict that to give me his lottery numbers.
> 
> And me
> 
> Only thing for sure is that they will rise, but when? Anybodies guess.


Couldnt agree more



neilos said:


> I was told from quite a reliable source in the finance market, they will remain at what they are for at least another year.


I guess when they rise it will be 0.25% at a time.


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## mt8 (Jan 7, 2011)

If you are concerned about the amount the mortgage payment is going to be with the new payment or potentially what it could go up to then I would recommend fixing the mortgage rate, at least this way you can budget this same amount for the next 4 years.

To be honest I don't think fixed rate longer term mortgages can get any cheaper than they currently are.


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## mattsbmw (Jul 20, 2008)

Personally i would go with the 4 year fixed rate, banks wont bring the interest rates down any more, they can only rise, its just when that will happen.


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