My current mortgage deal comes to an end in October.
My broker has given me prices for a new 2yr or 5yr deal. Needless to say my payments are going up substantially.
With rates likely to go up again this week, would the advice be to lock in a deal now for when my current deal comes to an end?
Or wait it out to see if rates come down before then?
From what I've read it seems rates could peak by the end of this year and possibly fall back by the end of 2025.
So I'm thinking go for a 2yr now and hope rates come down.
Thoughts and advice welcome.
My broker has given me prices for a new 2yr or 5yr deal. Needless to say my payments are going up substantially.
With rates likely to go up again this week, would the advice be to lock in a deal now for when my current deal comes to an end?
Or wait it out to see if rates come down before then?
From what I've read it seems rates could peak by the end of this year and possibly fall back by the end of 2025.
So I'm thinking go for a 2yr now and hope rates come down.
Thoughts and advice welcome.