ECB Rate To Rise Next Month?

[NorfBank]

According to Dan McLaughlin of Bank of Ireland....

http://breakingnews.ie/ireland/ecb-interest-rate-hike-very-likely-in-april-496433.html

This will lead to increases on tracker mortgage repayments.

 

[Mpsox]

And also probably on variable mortgages as well,

 

[Lex Foutish]

And also probably on variable mortgages as well,

An absolute certainty, I reckon.

 

[Emma1980]

oh of course it'll mean variable as well - but whatever the ecb raise it by doesn't mean thats all the banks will raise it by - they're only looking for an excuse!

 

[marksa]

Well if banks have to borrow money to fund mortgages, and the cost of borrowing it goes up, then they have to pass it on, or they make more losses, require more capital injections etc - most likely from taxpayers. So which do you want, lower mortgage rates for those with mortgages and the cost of the bank borrowing shared by all taxpayers. I believe the mortgage holders should pay up. Note that I am one of those - albeit on a 5 year fixed!