What is the outlook on mortgage interest rates?

E

Earnie Moore

Guest
What is the outlook on mortgage interest rates. Are they going to hold for the time being or increase in the second half of this year.
 
Re: Mortgage Interest rates

I am surprised you did not get any responces to this question before now! I think after nama up and running for a while banks will likely increase rates. However the German economy is not doing to well at the moment so ECB rates are unlikly to rise while this remains. Then again I am no economist!
 
Re: Mortgage Interest rates

lionstour said:
I am surprised you did not get any responces to this question before now! I think after nama up and running for a while banks will likely increase rates. However the German economy is not doing to well at the moment so ECB rates are unlikly to rise while this remains. Then again I am no economist!
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I don't think that an ECB freeze on interest rates will keep rates down here. Ask anyone who has a mortgage with PTSB! Banks need money badly at the moment and one sure way of getting it is by increasing rates on borrowings made by "safe" customers/clients. But I wouldn't bet on deposit rates increasing by the same amount....
 
Re: Mortgage Interest rates

Lex Foutish said:
I don't think that an ECB freeze on interest rates will keep rates down here. Ask anyone who has a mortgage with PTSB! Banks need money badly at the moment and one sure way of getting it is by increasing rates on borrowings made by "safe" customers/clients. But I wouldn't bet on deposit rates increasing by the same amount....
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If you read my previous sentence you will see I said that after nama is up banks will increase rates.
 
If / When AIB and others increase mortgage rates before an ECB increase, do they have to give a certain amount of notice before the rates are changed?

I am on standard variable and plan to move to the 5 year fixed. The fixed rate is currently 3.86%. Will I be given time to contact AIB to change to 3.86% before it increases or do I have to time it myself?
 
Don't think they are going to make it convenient for you in any way. It's up to you really.
 
QED said:
If / When AIB and others increase mortgage rates before an ECB increase, do they have to give a certain amount of notice before the rates are changed?
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No.

ICS released their new end dates for their fixed rate mortgages on Friday and surprisingly left the fixed rates unchanged.

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Thanks - That's what I thought but just double checking that there was no regulations to be complied with etc.
 
QED said:
If / When AIB and others increase mortgage rates before an ECB increase, do they have to give a certain amount of notice before the rates are changed?

I am on standard variable and plan to move to the 5 year fixed. The fixed rate is currently 3.86%. Will I be given time to contact AIB to change to 3.86% before it increases or do I have to time it myself?
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I would be seriously considering doing soon that as AIB as a NAMA bank , so may follow PTSB once they have all that lovely NAMA money.
 
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