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5 Year Fixed rates tell us what?
Mr_Singleton
Posts: 1,891 Forumite
Decided to do a 5 year fix on my recent mortgage.
Was surprised at that the rate was only 2.9%. Have seen others on rates from around 2.75% to 3.4% and up.
What is this telling us about what the banks think is going to happen to interest rates over the next 5 years?
Rates can't get appreciably lower but can increase markedly in response to market conditions. Have the banks got it wrong?
Was surprised at that the rate was only 2.9%. Have seen others on rates from around 2.75% to 3.4% and up.
What is this telling us about what the banks think is going to happen to interest rates over the next 5 years?
Rates can't get appreciably lower but can increase markedly in response to market conditions. Have the banks got it wrong?
0
Comments
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The rates have come down a lot over the last year and there are many 5 & 10 year fixes available too.
Some analysts have suggested the rates could come down further following QE at European Central Bank.
Obviously, no one know for sure what will happen.0 -
It's to do with the rates are lending to each other now. Given the lack of inflation and high interest rates in the stable world it is to be expected.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
with what ltv did you get that rate?0
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