Originally posted by Solidec
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5 year fixed rates will be based on expectations of rates over the next five years, not on what the rates of today are. Inflation is expected to rise after approx. 1 year of deflation, and it could actually be quite high.
My guess is that 5 year fixed rates will not get much cheaper than 5%. 2 year fixed rates could be quite a bit lower at about 3% IMO.
The best idea would be to get a tracker but banks are not to keen to offer those at the moment for obvious reasons. Mine will be about 1% as of next week !!
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