choosing fixed-rate mortgages
Figures have stated that people
are now choosing fixed-rate mortgages as a loan basis. Motley
Fool the financial website, have predicted on estimating over
interest rate increment and peoples choice to go ahead with the
fixed rate mortgage as repayments are supposed to be met.
Fool has stated that some of the borrowers
opting for fixed-rate offers increased nearly over 80, coming
the common interest rate increase in January period. The interest
rates have tripled since last year during the following months,
January, August and November.
Also, people who are switching their
home loan via a remortgage deal may also be thinking to fix their
mortgage rate. David Kuo, spoke further: "Fixed-rate mortgages
are the best way for homeowners to insulate themselves from rate
rises. It is ideal for people who need to know where they stand
financially from pay packet to pay packet. Currently, interest
rates are expected to rise 0.25% within the next two months and
a further 0.25% six months after that."
Mr Kuo added: "There is,
of course, no guarantee that base rates will rise to 5.75% before
the end of 2007. However, borrowers should resist the temptation
of second-guessing the direction of interest rates when their
homes are at stake."
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