# Anyone Like to fix their Tracker again?



## Gen360 (25 Feb 2017)

Maybe you got your Tracker back or maybe your still waiting. It looks looks like the banks are concerned for our future. I always felt they were trying to drag this out until the rates went up. Next question is will your original tracker contract survive another fixed term. Mister Boucher and Mister Mallon seem particularly concerned.

http://www.independent.ie/business/...rom-mortgage-rate-rises-boucher-35481295.html


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## Bronte (25 Feb 2017)

Good question. You'd have to do calculations on how much of a rate rise you can handle versus the fixed rates on offer. It's not likely we're going to see mega rate rises, I believe. Wouldn't mind if they did as I'm fixed and I'd like better deposit rates.


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## cremeegg (25 Feb 2017)

This is great stuff.

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The bank has "stress tested" itself and has the financial strength to deal with even a "rapid rise in interest rates", Richie Boucher said. _

Higher rates make it easier for banks to make money



_"Interest rates are at abnormally low levels," he said. _

Gee we didn't know that Richie

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"We don't take on interest rate risk as a bank, we cut it out wherever we can," he said. _

Unbelievable, you are a BANK, yet you expect the customer to take the interest rate risk. 


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Its raised fears that the 350,000 mortgage borrowers here with tracker loans are vulnerable if their borrowing rise sharply. _

Why would their borrowing rise sharply, perhaps you mean their interest rates rise sharply. Seems journalists are as dumb as bankers.


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## Bronte (26 Feb 2017)

One think I forgot to mention, if you're going from 1 percent to two percent, that's a doubling of your rate.  Whereas back on the old days, going from 9 percent to 10 percent dies the have the same impact.

Depending in their trackers and if not able to handle rate rises, I'd be considering taking the very attractive 10 year fix the Revenue staff credit union has on offer. Great peace of mind too. In these turbulent tines with Brexit etc.


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## cremeegg (27 Feb 2017)

I have regularly posted here against fixed rate mortgages.

However that Revenue CU offer of 2.94% fixed for 10 years is really something unusual in an Irish context.


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