Variable or fixed?

M

msmuffins

Guest
hi there

just looking for some opinions. I am on a variable rate mortgage of 2.63% since November. I was tied into a fixed rate mortgage of 5.5% the year previous. I am worried about rate increases and don't know whether to fix my mortgage again (which I am reluntant to do because of past experience) or to take my chances on the variable. My mortgage provider has offered me the following fixed rates

4.05% FOR 3YRS
4.6% FOR 5YRS
5.2% FOR 10YRS

Any advice?
 
Sorry for jumping the thread but I am also in the same boat. Im in a variable with PTSB and am trading up (growing family) and will be going from a 260K mortgage to approx 350K and I am not sure whether to fix for 2 yrs or stay variable. Variable seems to be cheaper but do the majority think they will significantly increase over the next year or so?

thanks guys and sorry OP...

mullingar
 
PTSB have already increased their rates this year i think , the general consensus is that rates will increase over 1% or so by the end of the year ( or so my bank manager reckons ! ) variable rates look great at the moment but I'd say add 1 - 1.5% to anticipate how the land will lie in 12 months or so , then those fixed rates might be looking good !!
 
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