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How long should we fix a fixed rate for given the current market?

  •  Sat, Sep 22 2007, 7:59 AM

    How long should we fix a fixed rate for given the current market?

    Given the current market uncertainty and relatively high rates right now. What would people recommend would be the best period to fix a fixed rate mortgage for?

     I have been offered a deal to stick with the YBS on 5.94% with and offset account which can be fixed for 2,3 or 5 Yrs.

    I'm not sure what period to fix it for? We do not anticipate moving within the next 5 years but like everyone - I would like to pay less for my mortgage and hence live in hope that within 2yrs rates would be lower and therefore I would save more by remortgaging within two years.

    Has anyone got a crystal ball or have a feeling what rates will do over the next 5years?

    Thanks

    ND

     

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