Fixed or tracker?Act now or wait?

poodlediva

I need to take out a further advance of £150k with Nationwide. I know that none of you have crystal balls (or at least I assume that is the case!) but does anybody have any good advice as to whether to go for a tracker or a fixed rate at the moment. I am slightly confused as trackers seem to be cheaper than fixes at the moment but I had understood that the base rate is likely to fall and keep falling. In which case, trackers would seem the better option. However, the fact that fixes are more expensive, especially the longer one takes them out for, make me think I am missing something. I know that Nationwide have just put all rates up and raised their basic tracker from 0.9ish above base to 1.2ish above base rate. So my second question is, do you think I should quickly bag this tracker or do you think if I hang around a couple of weeks I should be OK.

I realise I am only asking for opinions as nobody can know for sure...but I am interested to hear from my learned MSE friends!

Thanks...:beer:

feisty1

its really quite simple, if yr cautious play safe & go for a fixed, if yr a little risky u go for a tracker

Quote So my second question is, do you think I should quickly bag this tracker or do you think if I hang around a couple of weeks I should be OK.
quote none of you have crystal balls

u have answered it yrself

poodlediva

...but there are always rumblings about whether rates are likely to rise or fall at any one time. I was just interested to know what rumblings people had heard! I can't get my head around base rates falling yet mortgage interest rates rising.

feisty1

inter bank rates determine mortgage rates (the rates banks sell to each other)