ECB leaves rates unchanged

[NorfBank]

No surprise there but will the banks be as kind to variable rate mortgage holders?

 

[Paulk]

ECB leaves rate unchanged, but for how much longer...how often do they review it; quarterly?

 

[NorfBank]

First Thursday of every month.

 

[Mixednuts]

No surprise there but will the banks be as kind to variable rate mortgage holders?

Not a chance ...FR has come out and said " The banks now need to make money, I am not gonna jeopardise that"
They have a free run now .

Also the recent rate changes/increases showed up in the last inflation figures .
Banks will continue to try and offset the losses they are making with the tracker mortgages on their books by screwing the variable customers .

 

[aristotle]

ECB leaves rate unchanged, but for how much longer...how often do they review it; quarterly?

ECB rates are unlikely to go up this year (from what I read) but it all depends on so many factors that you cannot predict.

 

[Vega]

Agreed it's unlikely rates will rise this year but they're so low that the only way is up and they will go up as soon as it suits France and Germany and co. Irish mortgage holders are in for more pain next year.

 

[serotoninsid]

Agreed it's unlikely rates will rise this year but they're so low that the only way is up and they will go up as soon as it suits France and Germany and co. Irish mortgage holders are in for more pain next year.

Well, its been the silver lining on the black cloud thus far. It was expected they would have already risen some time ago - but that keeps getting put back...

 

[NorfBank]

Variable rates will rise independent of an ECB increase.
Trackers rates will be the cheapest rates.

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