Re:Tell HN: Wells Fargo completely offline
by Robin_Message on Friday February 08, 2019 @10:39AM
(#19115165)
The UK typically uses the same system of fixed rates for (usually) 2-10 years.
Story time: several years ago I took out a 10 year fixed rate of 2.99%. My thinking was that since the base rate couldn't really go down any further, I was locking in a good rate.
As it's turned out, so far I could have had a series of 2 year fixed at around 2%, so this was potentially the wrong move, although the maximum downside was limited.
My parents on the other hand took out a 12.99% fix in the early 90's, which turned out to be incredibly unlucky given the unprecedented low inflation of the nineties and noughties.
Story time: several years ago I took out a 10 year fixed rate of 2.99%. My thinking was that since the base rate couldn't really go down any further, I was locking in a good rate.
As it's turned out, so far I could have had a series of 2 year fixed at around 2%, so this was potentially the wrong move, although the maximum downside was limited.
My parents on the other hand took out a 12.99% fix in the early 90's, which turned out to be incredibly unlucky given the unprecedented low inflation of the nineties and noughties.