The vast majority of mortgage borrowers who’ve had a choice are on fixed rate deals these days. If you fixed while rates were still low, a crunch point will loom, probably sooner rather than later. And those who for years felt pretty comfortable (often a tad smug) with tracker rates, which meant they paid a little more or less than the bank base rate will be weighing the pros and cons of jumping ship. If you move to a new fixed rate now, will that protect you from further rises or mean you lose out if and when rates fall? And should you fix for 2, 3 or 5 years? Will that tracker rate still prove to be the best bet? Truth is, we can only work on a ‘best bet’ basis. In my experience, if you are on a fixed rate, you’ll usually pay more than you need to then less than the going rate for parts of the term, and there are few winners or losers; so just take the plunge. One thing’s for sure. We can’t keep blaming Liz Truss for it all.