Is now the right time to get a fixed rate mortgage or should I wait? i.e will the offers get better or worse, yes I know u have not got a crystal ball but what does your gut tell you?
My gut tells me that interest rates will continue to go down for a little while, maybe 6 months. The price of houses actually went up rather than down last month (contrary to predictions) so my guess would be as soon as every one is convinced prices have stabilised, interest rates will start to creep up again. You could take the middle ground and go for a capped rate, then you’d get the benefit of any lower rates, but know that they won’t rise beyond a certain level.
Jan
31