Irish Times: Is it too late to fix your mortgage?

We were mentioned in an article by Conor Pope of the Irish Times, he quoted us as follows:

According to Karl Deeter, of Irish Mortgage Brokers, trying to second-guess the market in the long term is “an impossible art” and the time to fix, for many, has already passed.

He points out that this time last year Permanent TSB was offering a 10-year fixed rate from 4.6 per cent, compared with 9.1 per cent today. “The horse has already bolted,” Deeter says. “The smart money always goes first and the stupid money goes at the end.”

He recalls clients with seven-figure mortgages who left low-cost trackers early last year to sign up for 10-year fixed-rate mortgages to give themselves a degree of security until 2020, but he would not advise people to do that now.

That fairly sums up our view, that the best time to fix has long since passed and that now the reduction in fixed rate prospects effectively shuts many people out of being able to do anything about rate hikes if they are on a standard variable rate. Having said that, seek advice if you are considering anything. For our clients, you can always call and ask us any question you have as part of our service 01 6790990

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