Tuesday
Jul192011
Mortgage Interest Rates on the Rise
Tuesday, July 19, 2011 at 11:42AM The European Central Bank (ECB) have moved their key interest rate again in July - for the second time this year. The rate now stands at 1.5%. The increases will not impact you if you have a fixed rate mortgage. However, if you have a tracker mortgage (which adds a certain guaranteed % onto the ECB rate), you may be getting nervous as the rate has stayed flat at 1% since May 2009. For the first time in almost three years you may need to consider how an increase in rates will affect you and decide what action, if any, you need to take.