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EBS 10 year fixed mortgage rate?

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  • 31-07-2010 8:22pm
    #1
    radioactiveman
    Closed Accounts Posts: 324 ✭✭


    Hi
    Does anybody know what is EBS's current rate for a 10 year fixed mortgage?

    The rates on their website were last updated in April and I can't see it anywhere on other "broker" sites (even the ones linked to in other posts in this forum).

    Also is it likely that these guys are going to increase their variable rates again before the end of the year??!
    thanks!


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    #2
    Davy
    Registered Users Posts: 19,340 CMod ✭✭✭✭Davy


    3 Year Fixed Rate 4.70%
    5 Year Fixed Rate 5.30%
    10 Year Fixed Rate 5.95%


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    #3
    tHE vAGGABOND
    Registered Users Posts: 6,687 ✭✭✭tHE vAGGABOND


    For the record, I would think really REALLY seriously before committing to a 10 year fixed rate...


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    #4
    radioactiveman
    Closed Accounts Posts: 324 ✭✭radioactiveman


    thanks guys
    For the record, I would think really REALLY seriously before committing to a 10 year fixed rate...
    I agree completely, but I am thinking that if variable rates are increased again (for a third time?) before the end of this year, then the difference between a variable rate and a fixed rate is less.

    For example if they increase rates again before the end of the year by 0.60%, it makes the variable rate less attractive. It's not as clear cut as it was before. In that case there would only be (say) a difference of 1.5% between the two, which is not enormous if ECB rates begin to return to a "normal" level. Obviously this won't happen for at least another year or so, but they could easily go up by more than 1.5% (I'm not sure what they were before the crisis).

    Also what's to stop Irish banks raising the variable rates again at some point that to raise their profit margin? If there no legal barriers to them doing this for variable rate customers and people cannot switch then it could happen.
    It might cause a bit of outrage at first but I reckon they could get away with it. They've already basically gotten away with 1.2% (looking like 1.8% by year end) above the normal rate with no opposition at all. What's another 1%? Would it be inconsistent with what has happened already?
    e.g.:
    http://www.irishtimes.com/newspaper/pricewatch/2010/0726/1224275459878.html


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    #5
    Davy
    Registered Users Posts: 19,340 CMod ✭✭✭✭Davy


    radioactiveman wrote: »
    thanks guys

    I would as well but if they are going to increase their variable rate anyway at the end of the year by another .60% then the difference between them is less.
    If interest rates are at an all time low, what's to stop rates going up 2 or 3% when things eventually start going well again?

    Its more in the line of 4 or 5 years down the road if there is another bad slump, you would have 5 years tied in where rates would be back low again. In the next 2 or 3 years ye most likely rates will go up, but after 5 years its very hard to predict.


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