Swap market rates

Discussion in 'The Fair Mortgage Rates Campaign' started by TC2015, 13 Feb 2018.

  1. TC2015

    TC2015 Registered User

    Posts:
    7
    Hi, as most banks use this data to calculate break costs on a fixed rate mortgage is there anywhere I can access historical data for swap rates??

    I intend to break out of a 3-year fixed rate with Ptsb soon.

    Any link to the info or assistance would be appreciated.
     
  2. Trixie

    Trixie Registered User

    Posts:
    11
    Hi,

    I am thinking of going into a fixt rate mortgage for 3 years with Ulster Bank the rate they have offered is 2.75%. I never had a fix rate before. I
    am currently on t 3.80% with them.

    Ulster Bank are saying mortgage rates are going to increase. I am not so sure, country growing.

    I am concerned about been tied into a fixed rate for 3 yrs.

    What do people think, is it a good time to fix or should I stay on the variable rate.
     
  3. Coldwarrior

    Coldwarrior Frequent Poster

    Posts:
    64
    Rates will likely start to rise early next year, fix now for as long as you can IMO, especially if your current rate is 3.8%. I can't post a link here to where to view historical swap rates but google 'the ice swap rates' and you'll find it.
     
  4. MacktheKnife

    MacktheKnife Registered User

    Posts:
    12
    Last edited: 4 Mar 2018
    Inflation is not hitting the targets the ECB have set, they indicated during the week that QE may have to go on for longer than anticipated.
    Therefore i think it is doubtful that rates will rise next year.
     
    Last edited: 4 Mar 2018
    Dauhee likes this.
  5. MacktheKnife

    MacktheKnife Registered User

    Posts:
    12
  6. cremeegg

    cremeegg Frequent Poster

    Posts:
    2,633
    AAM, where the smart money gets it's advice.

    The truth is that nobody knows the future, even the future direction of interest rates.

    I could say that your guess is as good as anybody else's but actually that is not likely to be true. It is likely that the banks guess is better than yours. That is why it is foolish to try to out guess the bank. Especially to bet your mortgage on your attempt to out guess the bank.

    If a guaranteed 2.75% for 3 years is attractive to you with certainty around the amount of the payment then go for it. But know that either way you cannot be sure in advance that you have chosen the cheapest option.