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When will new mortgage rates be announced.

  • 28-12-2018 1:55pm
    #1
    tommythecat
    Registered Users, Registered Users 2 Posts: 744 ✭✭✭


    Hi

    I’m just wondering is there a usual set time at the start of the year when banks announce new rates or is it just random?
    I’m thinking of switching to a fixed rate at a different bank but don’t want to do it just yet in case of a potential rate drop happening soon. (I’m aware that it could be a rate increase!)

    Thanks

    Tommy

    4kwp South East facing PV System. 5.3kwh Weco battery. South Dublin City.



Comments

  • #2
    Mike3549
    Registered Users, Registered Users 2 Posts: 1,004 ✭✭✭Mike3549


    tommythecat wrote: »
    Hi

    I’m just wondering is there a usual set time at the start of the year when banks announce new rates or is it just random?
    I’m thinking of switching to a fixed rate at a different bank but don’t want to do it just yet in case of a potential rate drop happening soon. (I’m aware that it could be a rate increase!)

    Thanks

    Tommy

    Im with aib and its completely random. Rates were reduced 5 times in 3 years, but the last reduction was sept/nov 2017


  • #3
    nim1bdeh38l2cw
    Closed Accounts Posts: 689 ✭✭✭nim1bdeh38l2cw


    Banks don't change their rates at the beginning of the year


  • #4
    Darkglasses
    Registered Users, Registered Users 2 Posts: 14,526 ✭✭✭✭Darkglasses


    It's basically random


  • #5
    GingerLily
    Registered Users, Registered Users 2 Posts: 4,767 ✭✭✭GingerLily


    Darkglasses wrote: »
    It's basically random

    Not quite, if the ECB rates change or competitors rates change then there will be a greater chance for a rate change.

    Interest rates can always go up, especially with Brexit looming.


  • #6
    myshirt
    Registered Users, Registered Users 2 Posts: 5,245 ✭✭✭myshirt


    GingerLily wrote: »
    Not quite, if the ECB rates change or competitors rates change then there will be a greater chance for a rate change.

    Interest rates can always go up, especially with Brexit looming.

    What? Please explain.


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  • #7
    tommythecat
    Registered Users, Registered Users 2 Posts: 744 ✭✭✭tommythecat


    Thanks guys.
    I guess I’ll just have to suck it and see. I’ll wait a few more months and see what the lay of the land is then.

    4kwp South East facing PV System. 5.3kwh Weco battery. South Dublin City.



  • #8
    myshirt
    Registered Users, Registered Users 2 Posts: 5,245 ✭✭✭myshirt


    tommythecat wrote: »
    Thanks guys.
    I guess I’ll just have to suck it and see. I’ll wait a few more months and see what the lay of the land is then.

    Looking at the price of futures today, the market doesn't think we will see an interest rate drop.


  • #9
    Darkglasses
    Registered Users, Registered Users 2 Posts: 14,526 ✭✭✭✭Darkglasses


    GingerLily wrote: »
    Not quite, if the ECB rates change or competitors rates change then there will be a greater chance for a rate change.

    Interest rates can always go up, especially with Brexit looming.

    True, but these things are essentially unpredictable by the average punter, is what I really meant.


  • #10
    GingerLily
    Registered Users, Registered Users 2 Posts: 4,767 ✭✭✭GingerLily


    Darkglasses wrote: »
    True, but these things are essentially unpredictable by the average punter, is what I really meant.

    Fair enough but once one bank brings them up the rest may follow, and it might be too late to get in on lower rates!


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