In late 2015, it looked to be wise to lock yourself into a fixed rate mortgage, with the looming prospect of a Bank Rate rise.
But gloomy economic data from around the world has quashed the prospects of rising rates.
In fact, market indicators suggest that Bank Rate will remain at 0.5pc until early 2017.
• Latest interest rate predictions and what they mean
• Best fixed-rate mortgages: two, three, five and 10 years
• Calculator: the impact of rate rises on your mortgage
For mortgage borrowers the question is whether tracker mortgages – which are fixed at a set percentage point above Bank Rate and then rise and fall in line with it thereafter – offer any advantage, or whether a fixed rate mortgage should still be the default for borrowers.
Author:Rogers Healy Phone: 214-676-4270 Dated: February 18th 2016 Views: 437 About Rogers: Rogers Healy, a native Texan, has lived in Dallas for the majority of his life. Before moving to Dal...
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