Warning! Cost of fixed rates to soar

kingkano

what, .07? big jump? lmfao

Long swaps are still at a reasonable rate. Get longer fixes to get a better deal!! Its about time the 2yr fix market died anyways.

Prudent

Please can somone explain the term 'swap rates' to me?
Thanks.

meanmachine_2

kingkano wrote: »

what, .07? big jump? lmfao

Long swaps are still at a reasonable rate. Get longer fixes to get a better deal!! Its about time the 2yr fix market died anyways.

Sorry, but a 0.07% jump is very significant in just three days and comes on the back of successive rises over the past few weeks which have pulled the 2 yr fix over 6% for the first time in a decade.

Maybe you'd like to reply to ALL of the posters when they come onto the site over the next few weeks angry that current fixes have been withdrawn and replaced.

kingkano

meanmachine wrote: »

Sorry, but a 0.07% jump is very significant in just three days and comes on the back of successive rises over the past few weeks which have pulled the 2 yr fix over 6% for the first time in a decade.

Maybe you'd like to reply to ALL of the posters when they come onto the site over the next few weeks angry that current fixes have been withdrawn and replaced.

why? im not not in govt or on the MPC?!? what a pathetic post! Usually your stuff is a bit better than that mate.....

I have found over the last 6 mths those swap rates generally are a bit volatile around the beginning or end of a month. They seem to slide the last rate rises in slowly.

And I still stand by my first comment. get a longer fix where the rates are quite decent. 2yr fixes are crud anyways with the fees etc and its about time that market died.

lynzpower

It is quite scary as my mortgage was only for 74k and ( i sold up) if I was taking on a mortgage at these rates today ( my swap ended in october, but selling so didnt refix) is just over 100pcm more.

i think a LOT of people will feel this, and it wont be pretty