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Variable rates

  • 27-05-2014 6:55pm
    #1
    valderrama1
    Closed Accounts Posts: 53 ✭✭


    Does anyone know - what is the story with variable rates when interest rates rise again?

    Whenever this is, banks will be making more money on people with tracker mortgages (vs no money now).

    In theory they should then be in a position to charge variable rate holders less instead of charging more to make up for the losses on tracker mortgages.

    Will this happen or is it just wishful thinking??

    Anybody in the industry have any idea?


Comments

  • #2
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    Wishful thinking.


  • #3
    valderrama1
    Closed Accounts Posts: 53 ✭✭valderrama1


    8% rates here we come!


  • #4
    coylemj
    Registered Users, Registered Users 2 Posts: 25,626 ✭✭✭✭coylemj


    With zero or low growth rates in countries like France, there is no way that the ECB will be increasing rates any time soon. The Bank of England is making noises about doing so but they're outside the Euro and can do what they like.


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