Time To Refinance?


With interest rates continuing at 'all time low' levels - is now the time to worry about whether you have the right mortgage deal?  We would say yes, looked for a low fixed rate deal now as all the indicators suggest rates will rise (and they have already in the US) 

Maybe we are being paranoid... 

But inflation has ticked up to above 2% (the governments long term target level needed to reduce its debt), wages are rising at 4.4%, house prices are growing at double digit rates and central banks around the world continue to increase money supply with almost unlimited money printing (quantitative easing), it can only be a question of time before the rampant asset price inflation this has driven over the past 15 years feeds through into consumer prices and at that point, central bank focus is likely to switch to managing inflation - which will increase interest rates and thus finance costs.

So, the need to remortgage and lock in today's low rates may not be something you need to do today or this week, but if you don't do it this year you may well regret it.

US rates are already rising:    Today's mortgage refinance rates ratchet higher : June 23, 2021 (bankrate.com)

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