Fixed rate mortgages - have juicy deals gone for good?

ess0two

Just read the thread at HPC,Sybil needs to get laid more and stop worrying.

carefullycautious

Why is there such animosity of another persons viewpoint. I cant understand why Hamish has been banned from HPC unless he has been abusive. I love the debates between bulls and bears but dont like nasty personal attacks they are pointless really. It would be a boring forum if only one point of view was put across.

HAMISH_MCTAVISH

carefullycautious wrote: »

It would be a boring forum if only one point of view was put across.

It would indeed. Which is what it's turning into.

And no, the bulls were no more aggressive/assertive/abusive than the bears were. There is frequently a lot of banter over there. Theres been a number of "McTwattish" posts here already from HPC posters, and far, far worse over there. We give as good as we get, but no more than that.

It seems to be a deep seated insecurity thing. The better the housing market performs, the more the hostility from bears turns into outright anger and abuse.

We've tried to be nice, we've tried to point out the facts, but they just don't get it.

It's interesting

andykn

Conrad wrote: »

I'm very interested for some considered views on the short to medium term prospects for fixed rates.
Ok there are some fairly decent 2 year fixes but for most that is too short a term, and the rates / fees are appreciably higher than those of the last 5 years or so - (with some exceptions such as the rate peak fixes). I for example enjoyed average fixes over the last 5 years of c4.1%. These 3-5 year fixes do not exist now.

The Nationwide are still doing a 3 year fix for 4.78% or a 5 year fix at 5.68%.

I don't think, in times of considerable uncertainty, a little prudence is inappropriate. I remember being delighted to get a 3 year fix at 7.25% in 1993.

Spartacus_Mills

carefullycautious wrote: »

Why is there such animosity of another persons viewpoint. I cant understand why Hamish has been banned from HPC unless he has been abusive. I love the debates between bulls and bears but dont like nasty personal attacks they are pointless really. It would be a boring forum if only one point of view was put across.

There's animosity on both sides. Most people do not take it too far but there are always some - on both sides - who do. Hamish was one on the Bulls side. The difference is that on a site like HPC naturally the majority of the posters are going to be bearish.

I got my posts put on moderate for having the cheek to have a go at the BNP supporters. I found them far more offensive than bulls who I reckon it is good to have around to challenge the received wisdom.

Thrugelmir

HAMISH_MCTAVISH wrote: »

No, bank margins are shooting up now. Base Rates won't rise til a recovery is firmly embedded. By that time, prices will be rising markedly, and additional liquidity returning to the market will actually drive margins down.

That is a fundamental flaw in your argument. Liquidity will not return in the form of cheap interest rates for a long time. Those with money to lend have the upper hand.

Margins will return to the profitable levels of 15 years ago. There's no competition to lend money.

andykn

Thrugelmir wrote: »

That is a fundamental flaw in your argument. Liquidity will not return in the form of cheap interest rates for a long time. Those with money to lend have the upper hand.

Margins will return to the profitable levels of 15 years ago. There's no competition to lend money.

According to Moneyweek magazine, people are saving more and paying debts down rather than spending. All that money has to go somewhere.

Thrugelmir

andykn wrote: »

According to Moneyweek magazine, people are saving more and paying debts down rather than spending. All that money has to go somewhere.

Since 2000 £300 billion has been withdrawn from the value of equity in housing and spent on consumption. In the year to April 2009 a net £23 billion was repaid. So still a long way just to repay recent debt borrowed let alone start saving. For many its going to be a lifetime.

inspector_monkfish

5yr Swap rates have turned lower over the past few weeks, so in theory so should Fixed Mortgage rates........it'll never catch on !!

carolt

Has no-one spotted our very own MSE's take on this?

http://www.moneysavingexpert.com/news/mortgages/2009/07/could-fixed-rate-mortgage-costs-soo

Fixed rates due to fall.