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It's a risk reward calculation. The difference between 1.5 and 2.5 % is a lot less galling if you guess wrong than double digit %s if rates ever go back there.
Yep, this...we've just got a mortgage sorted for (hopefully!) a new place and opted for a 10yr fix at 3.38% which was 0.05% more than the 5yr at the time. Worst case rates drop down again and we miss out on a cheaper final five years, 'best' case they don't and we know what we're paying for a long time and don't have to worry about any more rearranging fees until 2032.
Slightly galling going over the workings from the start of January that shows a rate of 1.44% for the same amount and LTV...hey ho, shame there wasn't a property available then for us...
tonylast
It's a risk reward calculation. The difference between 1.5 and 2.5 % is a lot less galling if you guess wrong than double digit %s if rates ever go back there.