New York, NY, October 02, 2009 --(PR.com
)-- It's inevitable interest rates will start to rise at some stage, but when and how quickly is something even the experts can't agree on.
Fixed rate mortgages are low, particularly for those with at least 25% equity, but will they/can they get any cheaper?
Tracker mortgage rates mirror any change in bank rate, but with mortgage lenders increasing tracking margins, and with bank rate at 0.5%, have you missed the boat?
Unusually, standard variable rates may also look attractive, but are lenders passing on any change in interest rates, as they struggle to retain savers?
If you are unsure what to choose, here are some facts.
Kash Mart mix and match mortgage is where you take part on a variable rate and part on a fixed rate. This gives you some security but will also mean you don't completely miss out if rates fall again. The downside is that you're likely to pay an arrangement fee for both schemes.
Kash Mart drop lock mortgages, offered in some countries allow you to take a tracker deal, but switch to a fixed rate in the future without penalty.
According to the outgoing director in canada, the rates for 2009 will not change in the first half of 2010. "If i were trying to drive the market, i would sustain existing rates until the economic indicators show a sustained change on the up side. Of course these levels won't remain like this forever, but it seems that in the medium term it is here to stay". A decision to keep the rates fixed was made in a board meeting recently.
About Kash Mart
In keeping with our name, which means "ever-growing", we are growing alongside our customers. Our vision is to increase our equity holders value by strengthening our position as a leading financial institution in North America, India, China and Africa focusing particularly on Institutional lending, Mortgage lending and International Payments. To become a Kash Mart Agent, call 1-800-574-6148 ext. 518.