Mortgage Rates Dropping - Should You Fix Your Mortgage Interest Rate Now Or Wait?

Mortgage Rates Dropping - Should You Fix Your Mortgage Interest Rate Now Or Wait?

In this video, we explore the recent drop in mortgage rates and whether now is the right time to lock in a fixed-rate mortgage or wait for further changes. With interest rates fluctuating, timing can make a big difference in your repayments. We’ll break down the pros and cons of fixing your rate now versus waiting, and what factors you need to consider before making a decision. Stay tuned to find out which strategy might work best for you!

Let me know your thoughts, comment below, any questions also post them below.

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[afzalgori]

I personally think it’s best to wait till October /mid November if your fixed rates deal coming end now if not just fix it now!

[matthewspry]

Two more months of pain, hold on a bit longer. The BOE will be forced to drop rates

[GL_]

My 5 year buy to let mortgage ends late december next year so hope there will be a good few rate reductions by then.🤞

[John-cro]

Banks change mortgage rates faster than home buyers change their purchasing decisions. Hence, lets say you could get whole 1% better on a mortgage rate if you waited until it was at its lowest rate.... But by that time buyers would have bid up house prices beyond what you'd saved on that interest rate. Personally i think if you can get anything like 4% fixed for 2 to 5 years then go for it, because if mortgages go down to 3% then house prices will go up by more than waiting. Try to drive a good bargain price, that will save you more than 1% for 3-5 years.

[Juliukas]

I personally wouldn't likely go for the tracker rate, I would fix at the best deal I can for 5 years as I am quite risk-averse and it has been a good decision so far.

[RyuMasterEX]

Currently in the process of buying and will be done in 4 weeks, I think I'll just miss the big drops. So either 4.55 at 2 years or 4.17 at 5 years, not sure.

[GL_]

My 2 year fixed runs out in January 2025 but I'm in no rush to take a new deal. Will wait until late November/ early December. Will remain with current provider Nationwide so quick and easy to remortgage.
Will definately be a 2 year, possibly a tracker.

[minecraftmike]

What about the 10 year deal, at least less risk for quite some time on a 19 year mortgage, or would you say that’s not such a good idea?

[taggthis]

Great video as per usual. Do you know if BM solutions have cut their rates? They always seem to be the last for some reason.

[Juliukas]

What are your predictions for March next year (when I can select my new deal) with 40% equity and July next year (when my current fix actually ends)?

[rogueinvestigates]

Fix for 2 years or 5 years for first time buyers?

[WarrenBeesley-tucb]

My 5yr mortgage is due to renew in April with TMW .I’ve got 55% equity and it’s at 4.49 % now, what do you think it will be in march? I’m thinking 3.8% 🤞