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Interest Rates & Fixing Tracker Mortgage

  • 28-02-2023 12:56pm
    #1
    lebigmacncheese
    Registered Users, Registered Users 2 Posts: 72 ✭✭


    Hey,

    Can anyone tell me if that think I should fix my tracker mortgage (ECB + .95%)?

    Will rates drop in the next year or two?

    Thanks.



Comments

  • #2
    Keano
    Moderators, Recreation & Hobbies Moderators, Social & Fun Moderators, Sports Moderators Posts: 12,808 Mod ✭✭✭✭Keano


    How long have you left?



  • #3
    lebigmacncheese
    Registered Users, Registered Users 2 Posts: 72 ✭✭lebigmacncheese


    20 years



  • #4
    Keano
    Moderators, Recreation & Hobbies Moderators, Social & Fun Moderators, Sports Moderators Posts: 12,808 Mod ✭✭✭✭Keano


    Similar to myself so, I am staying put as had benefit of if for most of the term so far. I don't believe it will stay at it's current level for longer than 2 years and then it should drop back, probably not back to it's lowest.



  • #5
    walterking
    Registered Users, Registered Users 2 Posts: 1,297 ✭✭✭walterking


    With 20 years left and having a 0.95% tracker you would be mad to give it up as you would have about 15 years of being at the mercy of what rates your bank will charge after the fixed rate ends.

    You may be paying a bit extra for another year / year and a half, but remember when rates start dropping, the tracker rate drops immediately



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