Mortgage: Should I fix asap or what ?

[Chupacabra]

I was wondering what people think. I am on variable right now. Should I fix asap or what ?

With IMF in town it going to be painful I am sure ...

 

[VonLinus]

I was wondering what people think. I am on variable right now. Should I fix asap or what ?

With IMF in town it going to be painful I am sure ...

I think the rationale for fixing is that the IMF will want to prise as much money back from the banks as possible, and with 55-60% of Irish mortgages in trackers, and 20% or so in fixed, the only place to hit people immediately is in variables. I'd say it'd be a good idea to fix if you're not on a tracker.

Caveat: I'm not certain this is the correct analysis, but everything I've seen seems to point to variables being something to avoid right now. ECB wil lhave to raise rates at some point, and variable rates will also be hurt by domestic banks seeking to make profit they should be making on trackers.