Is anyone in possession of a working crystal ball?
I hope to move house this summer. The $64k question is; should I take a fixed or tracker mortgage?
Just for example, looking at NatWest mortgages:
2yr fixed - 3.39%
5yr fixed - 5.49%
2yr tracker - 2.59%
(I know there are better value products out there, but just using this as an example)
Mortgage will be 50% of house value and repayments affordable for as long as I am employed, even if rates double.
So the question is not so much about affordability but best value over the next 5yrs.
Anyone with a view with how interest rates will change over this period?
My gut feeling is to go tracker, but am I being naive?
Thanks for any thoughts.
I hope to move house this summer. The $64k question is; should I take a fixed or tracker mortgage?
Just for example, looking at NatWest mortgages:
2yr fixed - 3.39%
5yr fixed - 5.49%
2yr tracker - 2.59%
(I know there are better value products out there, but just using this as an example)
Mortgage will be 50% of house value and repayments affordable for as long as I am employed, even if rates double.
So the question is not so much about affordability but best value over the next 5yrs.
Anyone with a view with how interest rates will change over this period?
My gut feeling is to go tracker, but am I being naive?
Thanks for any thoughts.