shootingstar
Registered User
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What does this mean? ECB is 4%. Do you mean ECB + 0.65% tracker?Im currently on 4.65% ECB..
It's very simple if it's a tracker mortgage. Basically your mortgage rate will be ECB + x% so that the rate changes as the ECB rate changes and x is the fixed margin over the ECB base rate that the lender charges. If you are paying 4.65% then you are either on ECB + 0.65% (ECB rate became 4% the other day) or - more likely I think - ECB + 0.9% based on the ECB rate of 3.75% up to last Wednesday (?).i dont understand the whole ECB / Tracker / rates a whole lot. i was told im on the European Central Bank tracker rate. Mortgage guy said i was currently on 4.65% ???
Depends - if you are struggling with the repayments or might if rates keep increasing then perhaps. If not then you might be better off sticking with the best value tracker rate on offer for your circumstances. Nobody can predict the future but it's usually not a great idea to go fixed in an attempt to time the market, second guess the financial institutions and save money versus a competitive tracker rate.u think 4.95 for 5 yrs fixed is worth looking at?
What does this mean? ECB is 4%.
Depends - if you are struggling with the repayments or might if rates keep increasing then perhaps. .
So it's virtually certain that if the original poster is on a tracker rate of 4.65% then their rate is actually determined by ECB + 0.9%.
Yes. Further, I expect some ECB tracker products wait a few weeks to react to ECB changes (depends on the terms and conditions.).
Such as ...tracker products?
Indeed.u can never know with the interest rates
Why does it look like this? I've heard other "experts" say that they expect them to go to 5% within 12 months.but it looks like it will peak at 4.25 ECB and from there on it might be flat for a while.
Ultimately nobody can predict the future so don't bother fixing in an attempt to time the markets, second guess the institutions and save money versus a competitive tracker/variable rate. If you need (e.g. due to cashflow constraints) to fix then do so. If you don't then don't.if you take NIB product of ECB+0.5, you need two more ECB rate increases to reach 4.95, would you not consider switching
Indeed.
Why does it look like this? I've heard other "experts" say that they expect them to go to 5% within 12 months.
today's eu data show that industrial porduction down by 0.8 per cent in april, expectation was for it to be up by 0.2 per cent. in germany they are revising economic growth rate figures for the second quarter, it is downwards though. the data do not show a trend yet, we will see over the summer.
Ultimately nobody can predict the future so don't bother fixing in an attempt to time the markets, second guess the institutions and save money versus a competitive tracker/variable rate. If you need (e.g. due to cashflow constraints) to fix then do so. If you don't then don't.
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