anyone got a view on interest rates please?

[mckenzie]

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

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.

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

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

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

dp says worth it then , just been on news now bank of england admit they have no control and mortgage payers should brace themselves email dp here : [email protected]

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.

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