This should be good news, not just for those getting a new mortgage but also for your investments. Interest rates and inflation are what’s stopping the long-awaited recovery in markets and funds, and much more important to the world of business than ‘world events’. Putin’s invasion hit our finances because of the immediate impact on both food and fuel prices; had neither of those been factors, it would have been little more than a blip rather than the big dip it became. And as always, lil’ ol’ England is not as important, in so many ways, as we like to think it, and it’s the US economy, inflation and interest rates which will have the biggest effect. They also, of course, have an election looming (on Bonfire Night, which won’t mean a lot to them) and that, too could mean a last minute boost. Watch any available space.
“Should you fix your mortgage forever?”
In the US (and, randomly, Denmark) it’s the norm to fix-rate your mortgage for the life of your mortgage. For us and most others, it’s now usual to fix your mortgage rate, but only for a couple or five years at most.
