Mortgage Fix Rates

[dshakey]

Do you think that the fixed rate mortgages will change as well? i am currently in the process of getting a new mortgage i have been approved in principal, but wondering will i be abel to get the betters rates before i drawdown.

i have been approve for a 5 yr fix mortgage at 5.2%, i am wondering before i draw down and be stuck with this rate for the 5 years will the banks change their rate.
the banks will only give me 5 years fix for the oney i am looking for.

with the ECB change last month and possible change this thursday will the banks pass this onto us, i know variable and tracker mortgages have changed.

 

[NorfBank]

with the ECB change last month and possible change this thursday will the banks pass this onto us, i know variable and tracker mortgages have changed.

The short answer is nobody knows but it is likely that fixed rates will decrease following the next expected rate cut.
The best thing you can do is wait as long as possible before you drawdown the mortgage cheque.
Even though 5.2% is on the loan offer, if the bank reduces it's 5 year fixed before you drawdown, you will be entitled to the lower rate.

 

[Spin]

I think you should opt for a variable rate at the moment and then you can fix it when the rates decreases. It is expected that ECB will reduce rates by a further 1% before March so you would be mad to get tied into a fixed rate now
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