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dodgydaz

People's Views On Interest Rates

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Hi all,

I thought I would ask the experts their opinion on interest rates. What is likely to happen in the coming months based on current and past trends?

I know it's probably like asking when will I win the lottery, but I thought some of you guys would have an inkling as to what will happen. Will interest rates remain at .5% for the next 3 - 6 months. Will the banks keep their interest rates a few % higher than the BOE rate?

I am asking as I am in two minds at the moment as to what to do about my fixed mortgage. It's a 2 year fixed at 6.1% and is not due to come to full term until next June. So I have been scouring the net for better deals now, and I think I could save on average £60 - £70 a month if I switch. However, the high redemption charge of a £1000 is making me a bit reluctant to move now. I resent having to give banks more money, but on the other hand, are there going to be good deals next year? Or are rates going to slowly rise so by the time June comes around, I will be worse off?

Interested to hear your comments and hopefully a little advise....

Thanks

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Hi all,

I thought I would ask the experts their opinion on interest rates. What is likely to happen in the coming months based on current and past trends?

I know it's probably like asking when will I win the lottery, but I thought some of you guys would have an inkling as to what will happen. Will interest rates remain at .5% for the next 3 - 6 months. Will the banks keep their interest rates a few % higher than the BOE rate?

I am asking as I am in two minds at the moment as to what to do about my fixed mortgage. It's a 2 year fixed at 6.1% and is not due to come to full term until next June. So I have been scouring the net for better deals now, and I think I could save on average £60 - £70 a month if I switch. However, the high redemption charge of a £1000 is making me a bit reluctant to move now. I resent having to give banks more money, but on the other hand, are there going to be good deals next year? Or are rates going to slowly rise so by the time June comes around, I will be worse off?

Interested to hear your comments and hopefully a little advise....

Thanks

I suspect that rates will stay at the current level until Q2 next year when they will rise 50bp, followed by another 1.5% rise by the end of the year probably in 25bp increments.

Total guesswork of course.

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Hi all,

I thought I would ask the experts their opinion on interest rates. What is likely to happen in the coming months based on current and past trends?

I know it's probably like asking when will I win the lottery, but I thought some of you guys would have an inkling as to what will happen. Will interest rates remain at .5% for the next 3 - 6 months. Will the banks keep their interest rates a few % higher than the BOE rate?

I am asking as I am in two minds at the moment as to what to do about my fixed mortgage. It's a 2 year fixed at 6.1% and is not due to come to full term until next June. So I have been scouring the net for better deals now, and I think I could save on average £60 - £70 a month if I switch. However, the high redemption charge of a £1000 is making me a bit reluctant to move now. I resent having to give banks more money, but on the other hand, are there going to be good deals next year? Or are rates going to slowly rise so by the time June comes around, I will be worse off?

Interested to hear your comments and hopefully a little advise....

Thanks

Providing things look as they do at the moment I would guess that bank base rates will start to rise next year quite quickly

Maybe ending the year (2010 that is) at 3-4%?

This is on the basis of a weak but slowly growing (again) economy :unsure:

You'll have to work out for yourself what that means for your mortgage and its a total guess.... :blink:

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