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anyone got a view on interest rates please?

(8 Posts)
mckenzie Wed 12-Sep-07 18:28:52

I called it wrong at the beginning of the year and went for a basic replayment mortgage rather than fixing the rate. Rates have obviously gone the opposite way to what I was expecting. Do you think that's enough now and they won't go any higher or should I cap my losses and remortgage asap?

TIA

lljkk Wed 12-Sep-07 19:17:03

If the economy nosedives because of the sub-prime mortgage crisis in the USA, global recession could ensue, interest rates will plummet everywhere.

So I'd sit tight in your situation.

mckenzie Wed 12-Sep-07 20:33:42

thanks lljkk. I've always been fairly accurate with my rate predictions up until now but having got it so wrong this time I'm very nervous. Also, DH thinks I'm a bit of a money whizz kid and I hate to have to admit to him that I'm actually just a sahm who used to work in the financial markets some 7 years ago but who now seems to have lost her touch smile

LilyLoo Wed 12-Sep-07 20:58:20

it would depend what rate your on and if you would have to pay any penalties to get out.

mckenzie Wed 12-Sep-07 21:26:30

We're just on the variable at the moment Lilyloo so no penalties at all.

LilyLoo Wed 12-Sep-07 23:06:06

dp says worth it then , just been on news now bank of england admit they have no control and mortgage payers should brace themselves shock email dp here : enquiry@firstforfinance.net

sunshineandshowers Sun 16-Sep-07 09:20:10

IR will be going up. We will be getting lots of inflation from food, petrol and China in the next year. In my opinion, when you have a young family/money is tight you should ALWAYS fix, even if it seems a little bit more expensive at the beginning.

Twiglett Sun 16-Sep-07 09:21:59

I think I'd fix .. I'm not a fixer in general prefer discounted trackers but with the current uncertainty I'd fix .. but for a couple of years not 5 .. HTH

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