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Will Interest Rates Rise in 2021?

Posted on Tuesday, August 10, 2021


Will Interest Rates Rise in 2021?

It is my belief that interest rates will remain at an all-time low for many years to come. At times I'm often asked as to why I think this, well allow me to explain. It would appear the property market props everything up, the supply chain is immense throughout the property sales process and continues thereafter. If your looking to rebuild your economy then raising interest rates would certainly put a stop to this. 

 

Interest rates are low and rightly so, I very much doubt we will ever see the return of the high rates that plagued us throughout the 90s through to the 00s. Another question I'm often asked is to what mortgage rate am I best having? Obviously, everyone has different requirements, the most popular rate sold today is a 5 year fixed rate. If your circumstances fit into the 5-year bracket then this may be the best option for you. Fixing in at a very low rate will help you to budget for the future.

 

In summary, I doubt interest rates will rise and the most popular rate sold today is a 5 year fixed rate.