Mortgages - fix for 2, 3 or 5 years?

[PassportAngst]

Current mortgage rate is 1.79%. Cheapest fix we can get is 3.19% and it's the same rate whether we fix for 2, 3 or 5 years.

What are others doing in a similar position? Are interest rates likely to keep rising or is this just a peak and they'll slowly come back down again?

Article from the Financial Times today:

Good morning. Bank of England governor Andrew Bailey raised the possibility of increasing interest rates by half a percentage point in early August as he toughened the UK central bank’s stance on battling rising prices.

Bailey said the BoE’s Monetary Policy Committee had an “absolute priority” to bring inflation back to its 2 per cent target as it faced the “largest challenge” to inflation control since gaining independence on interest rates in 1997.

June inflation is expected to hit another 40-year high of at least 9.3 per cent today. A half-percentage-point interest rate rise would be the bank’s largest since 1995.

We are fixing for 10 years. About to move house and increasing mortgage by fair whack, so 2.48 % for 10 years is a bargain!