Interest Predictions

getmore4less

DontBringBertie said:

Just for balance, we said to ourselves in May 2017 when fixing our mortgage that rates could only go up. Which hasn’t happened in the last 5 years. 

Although, it didn’t matter too much as we’ve moved from a 2.19% 5 year fix to a 1.49% 5 year fix.

Rates can only go up has been the mantra ever since fixes became more widely available that's why thousands(maybe millions) missed out on the glory years of low rate lifetime trackers.

We got in at base+0.95% many went down to base+<0.2%
some went base -0.x%  (yes negative premium) that's when all the caps and floors came in as some lenders got caught out with their T&C's.

The Nationwide base +2% follow on had a long life before it was worth changing back to fixed rates.

Even late last year rates can only go up was the  mantra when they were coming back down from the covid highs.

Some are too young to have seen the broader market  and have had fix fix fix drummed into to them.
(Having said that most alternatives are not that good these days, many trackers and offsets are short term)