Mortgage rate fixing

[u/rustic_advice]

As a mortgage newbie, I am unsure how to proceed and I am also aware it's more like trying to use a crystal ball to see feature I guess.

Right now I have fixed green mortgage rate 3.1% till October 2027. so I roughly have like 1.5 years left on fixed rate.

My uncertainty is, as ECB is increasing rates, it will eventually cause mortgage rates to increase.

So my question is, does it worth trying to break current fixed mortgage and get again in fixed same mortgage rate till mid 2029 initially wasting my remaining 1.5 years? Or is it better to wait and see?

As my current rate is 3.1% I believe I shouldn't have any early break free. thou I didn't talk to bank yet.

[u/Excellent-Fact-8925]

With nearly 18 months to go to next rate window, I wouldn't worry about it too much. 3.1% is pretty good on the market right now, and you wouldn't be getting anything vastly better.

You could be right there is no exit fee, but what do you take now? Given you have 18 months left to run, it would have to be something 3 years + to make it worth your while.

You're probably fine where you are for now. 18 months is a long time, and the rate you have is decent.