The 5 year rate demonstrates that the banks expect long term falls

however, that's not to say that if you took the 2 year rate today, the rates would necessarily be lower at the time it comes for you to re-mortgage again than the 5 year rate today.

I'm risk averse, and therefore if happy with the 5 year rate I'd take it for fear of being locked in with a higher rate in two years time.

the cheapest option might actually be a variable rate, if you trust that we're not far off the peak of interest rate hikes. That wouldn't be for me as noted above, I'm too much of a nervous nelly.

Posted By: SimonOTBC, Feb 2, 11:06:17