Bank rang me this afternoon to say that long-term borrowing fixed rates are being increased on Monday. Example: 5 years, currently 6.5% going up to 6.75%.
I like the idea of some certainty over the next 3-5 years, so fixing now has some appeal, since historically (my memory) borrowing hasn't been this low for several cycles.
Anyone care to predict the future and prove me wrong? I have the weekend to decide whether I will fix my floating rate or take the gambler's route and see if it goes down any more.
I like the idea of some certainty over the next 3-5 years, so fixing now has some appeal, since historically (my memory) borrowing hasn't been this low for several cycles.
Anyone care to predict the future and prove me wrong? I have the weekend to decide whether I will fix my floating rate or take the gambler's route and see if it goes down any more.
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