Good time to fix?

butterfly72

Do you think now is a good time put money into a fixed rate savings account. I've just fixed next years ISA money at 7% with the Halifax but do have some spare cash sitting in B&B variable savings account. I'm debating whether to fix in the B&B 6.70% account for one year. I know interest rates have just fallen and are predicted to fall further, but won't banks still be wanting/needing our cash for some time to come thus offering higher rates? I don't want to miss out if I fix or indeed don't! Any thoughts?

Hungerdunger

When my wife and I put most of our savings into one and two year fixed rate "bonds" this was our thought process:

1) If we're getting between 6% and 7% now and rates go up to 8% or even 9%, we won't worry because we're still getting quite a respectable rate.

2) If interest rates drop to 4% or even lower, we'd be really kicking ourselves for not taking out a fixed rate account.