MSE news: Base rate held – but with mortgage rates falling, should you fix now or wait?

MSE_Kit

Fixed-rate mortgage deals have gotten cheaper in recent weeks – and brokers say rates could still come down a bit more, despite the Bank of England’s decision to hold the base rate at 5%. So what, if anything, should you do about it?

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'Base rate held – but with mortgage rates falling, should you fix now or wait?'

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jobbywobbler

I need to remortgage 2 properties next year, Oct and Nov - so hoping for rates to drop a bit.   Both have loads of equity and only looking 100k on each, maybe 3% fixed if we are lucky (at the mo they 1.79 and 1.49).      Have large amounts in ISA at 5.7% so will overpay or add to as part of remortgage.

Crystal ball anyone?

Hoenir

Zero indication that BOE base rate will reach sub 3% anytime soon. The post Quantative Easing era was always going to be a case of entering unchartered water. A combination of rapidly increased interest rates and unwinding has already thrown up many surprises.  May well be the case that using some of the money currently in the ISA to reduce the debt might be the best option.  

Baldeagle095

Should APRC not be included in these figures?

Maka344

It is convoluted for sure. 

jobbywobbler

Hoenir said:

Zero indication that BOE base rate will reach sub 3% anytime soon. The post Quantative Easing era was always going to be a case of entering unchartered water. A combination of rapidly increased interest rates and unwinding has already thrown up many surprises.  May well be the case that using some of the money currently in the ISA to reduce the debt might be the best option.  

Yeah, will lump a load into those where the 1.79 and 1.49 rates near the end and see whats about.   Seems there is a lot of porting done - which saves any hassle.   A few analysts saying it looks lime it would be at 2.75 by Dec 26 (not is sure though).