We've all been been fairly clued in as to the potential for rate increases before year end (likely two more; 0.25% each). Or at least, so I thought. Heard an economist reporting on Newstalk this morning and he indicated that as far as he could gather from ECB "indications" (whatever they are) we shouldn't rule out the potential for a total of a 1.5% increase over the next 18 months. When will it end?!?!?
Was prepared to ride out the next two 0.25% hikes but now with threats of more in the offing am wondering if I should just bite the bullet and fix my mortgage interest rate, even for a year or two. Am currently on tracker and once I switch from this I can't go back but am also worried that by sticking with it I may end up paying more in the long run. Also have an investment property on a variable rate.
All thoughts on this subject welcome.
Thanks.
Was prepared to ride out the next two 0.25% hikes but now with threats of more in the offing am wondering if I should just bite the bullet and fix my mortgage interest rate, even for a year or two. Am currently on tracker and once I switch from this I can't go back but am also worried that by sticking with it I may end up paying more in the long run. Also have an investment property on a variable rate.
All thoughts on this subject welcome.
Thanks.