Fixed rate mortgages March 2010

Financial institutions have recently indicated they will shortly increase variable mortgage rates. If this is true, should you fix the rate of interest on your mortgage?
Simple answer is yes.
But before you do, go and talk to your provider, make sure you understand the benifits and the down side before you take the plunge.
It is expected variable mortagge rates will rise to over 4% within 12 months, and some providers are offering fixed rates for 5 years at less than 3.5%, so while there will be a time when the rate you pay will be higher for a short time, in the long run the variable rate will be higher, by how much we cannot predict, but at least you will have the peace of mind knowing, you repayment will not change until the end of the fixed rate term.
If you have a query, send me an e-mail,

Gerry