Fixing a mortgage can seem like a game of stick or twist. Are you feeling lucky?

If the ECB interest rate is going to fall soon, then it may not be a good idea to fix a rate. But on the other hand...

Most commentators say fixing a new rate now is a bad idea, except for first-time buyers who prefer to have certainty of outgoings. Photo: Getty

Sinead Ryan

Don’t hold your breath, but we may finally have a chink of light at the end of the European Central Bank’s monetary policy tunnel – which has been ascending since July 2022.

Its job is to keep inflation at 2pc – but at one stage it hit five times that, launching 10 successive interest rate hikes, which hit Irish mortgage holders in the gut.