Homeowners rush to fix their mortgage rate ahead of expected spate of rises

"Mortgage holders are rushing to fix their home-loan rates, fearing that a spate of rises are on the way."

"Large numbers of homeowners are also breaking out of existing fixed-rate arrangements to lock in to new fixed rates in a bid to shield themselves from expectations mortgage costs will jump, according to the Irish Independent Doddl Mortgage Switching Index for the first quarter of this year."

Large numbers of homeowners are adjusting their home-loan arrangements to secure new fixed-rate deals. Many are leaving existing fixed-rate arrangements to lock in updated rates. The switching activity is driven by fears that mortgage costs will rise. The Irish Independent Doddl Mortgage Switching Index for the first quarter of this year reports this surge in mortgage switching. Homeowners are using the move to fixed rates as protection against expected increases in borrowing costs.

Read at Independent