Danger for householder's mortgage repayments when mortgage rates rise
posted on Wednesday, 31st August 2011
It's important to keep in mind that mortgage rates are unbelievably low at the moment. That relief that the mortgage is a little easier to pay now with low rates is good for the time being but it must not be forgotten that rates are likely to go up.
With the cost of living going up and up at the moment it could cause a double shock to household finances when mortgage rates go back up. A good way to be reminded about the larger payments for mortgages is to look back at what the payments were before the rate rise, and keep this figure in mind.
Although rates are unlikely to go up immediately they must at some stage......
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