Is it the right time to fix?

Purely from a rates point of view?

Are they likely to only stay still or go down from this point?
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  • Hoenir
    Hoenir Posts: 1,181
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    Most likely to be far more stable with more infrequent significant changes. 
  • j813ys said:
    Purely from a rates point of view?

    Are they likely to only stay still or go down from this point?
    The right time to fix was a while back, but I think now is better than next week. That's my view anyway.
    Do you think there will be a downward trend then?
  • jaypers
    jaypers Posts: 651
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    edited 16 November 2023 at 10:04AM
    I think that the only way is down now. Fixed rates are looking at the future. Inflation is falling and interest rates are now tipped to remain pretty static until Q1/Q2 next year and then begin to fall. It’s likely that fixed deals will not be going up, although you may see the odd short term deal depending on many factors. The best rates have gone but if you want to fix, do it now. If you want to hedge your bets, use laddering and save smaller amounts in multiple accounts over time.

    Likely that you will start to see slightly better regular saver accounts and Notice ones too, but time will tell. 
  • miabrown said:
    j813ys said:
    Purely from a rates point of view?

    Are they likely to only stay still or go down from this point?
    The right time to fix was a while back, but I think now is better than next week. That's my view anyway.
    Do you think there will be a downward trend then?
    I can't see it getting any better any time soon put it that way
    I choose the rooms that I live in with care,
    The windows are small and the walls almost bare,
    There's only one bed and there's only one prayer;
    I listen all night for your step on the stair.
  • refluxer
    refluxer Posts: 2,535
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    miabrown said:
    j813ys said:
    Purely from a rates point of view?

    Are they likely to only stay still or go down from this point?
    The right time to fix was a while back, but I think now is better than next week. That's my view anyway.
    Do you think there will be a downward trend then?
    I currently have easy access accounts paying more than the fixed rate accounts that (normally-competitive) banks like Shawbrook are offering at the moment, which is a good indication of where they think rates are heading, at least.

    While there are still plenty of other banks paying more, those rates are heading downwards on an almost-daily basis so there is a definite trend at the moment, but who knows what's round the corner.

    Better to spread savings over different options than to have all your eggs in one basket, IMO.
  • j813ys said:
    Purely from a rates point of view?

    Are they likely to only stay still or go down from this point?
    They could go up as well - no-one has a working crystal ball
  • DavidAC
    DavidAC Posts: 286
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    edited 16 November 2023 at 4:10PM
    Labour look like winning the next election. How well have they done in the past at keeping inflation under control.
  • Albermarle
    Albermarle Posts: 21,077
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    DavidAC said:
    Labour look like winning the next election. How well have they done in the past at keeping it under control.
    Keeping what under control ?
  • mebu60
    mebu60 Posts: 799
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    DavidAC said:
    Labour look like winning the next election. How well have they done in the past at keeping it under control.
    I don't think any of them have a particularly good track record of keeping it under control. They're not so hot on the economy either. 

    For what it's worth I expect a slow decrease in interest rates over the next couple of years. Would not be surprised to see the BoE inflation target increased from 2% to 4% either. 
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