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Mortgage Rates-What to do?

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    #32
    Trampas
    Registered Users Posts: 7,534 ✭✭✭Trampas


    Mitzy wrote: »
    ** Also IIB customers be aware, they are ringing customers who are on good tracker rate margins & offering them excellent fixed rate options. While the fixed rates are good, you will do much better to stay on your tracker in the long term.

    I got one of them letters. When I see fixed rates offers which look very tempting must mean rates are going down so they can make the most from you. I'm on tracker + .75% and not moving for the moment


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    #33
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,281 Mod ✭✭✭✭The_Conductor


    Trampas wrote: »
    I got one of them letters. When I see fixed rates offers which look very tempting must mean rates are going down so they can make the most from you. I'm on tracker + .75% and not moving for the moment

    Nice one getting the tracker @ .75% while it was going.......
    It'll be a long time before there are offers like that available again!


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    #34
    jetski
    Registered Users Posts: 820 ✭✭✭jetski


    im due to draw down my mortguage in about 4 weeks.... if the interest rates drop in say 2 weeks from now are they likly to drop again within a week say?


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    #35
    delly
    Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators Posts: 7,663 Mod ✭✭✭✭delly


    Purely working of my own logic, i would think that banks would be very quick to pass on a rate cut, as there is a lot of business waiting for the first cut in a long while and i would hope the banks would be eager for the business. In saying that tho', since when have the banks acted logically?


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    #36
    astrofool
    Registered Users Posts: 16,545 ✭✭✭✭astrofool


    They'll drop or rise a maximum of once a month unless something extraordinary occurs in the mean time.


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    #37
    celtic1888
    Registered Users Posts: 228 ✭✭celtic1888


    can someone tell me what kind of mortgage this is

    IIB "Flexi annuity"....is it a tracker?? my rate is currently 5.64%, havnt had any notification from them as yet about the recent decrease

    cheers


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    #38
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,281 Mod ✭✭✭✭The_Conductor


    celtic1888 wrote: »
    can someone tell me what kind of mortgage this is

    IIB "Flexi annuity"....is it a tracker?? my rate is currently 5.64%, havnt had any notification from them as yet about the recent decrease

    cheers

    A flexi-Annuity mortgage is simply a mortgage in which you are paying off a portion of the principle along with the interest on a monthly basis. Some borrowers have flexi-annuity mortgages which allow you to pay off a varying amount of the principle along with the interest on a monthly basis. It has nothing whatsoever to do with the interest rate being charged on the mortgage though.......


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