SHOULD I GET A LONG-TERM FIXED-RATE MORTGAGE? – TIMES MONEY MENTOR

Interest rates have been climbing over the past year, so is it worth locking in a long-term fixed mortgage?

When looking for a fixed-rate mortgage, you need to decide how long you want to commit to a deal for. Most lenders offer deals that last for two, three, five or ten years, but some go on even longer.

With mortgage rates soaring during 2022 and not declining much since, locking into a long fixed deal now could leave you paying above the odds later down the line. However, there are upsides to a longer commitment.

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