Your personal finance questions – Should I give up my tracker mortgage now that interest rates are rising fast?

Q I have a tracker mortgage, so my mortgage bills have gone up twice since last July as a result of two interest rate hikes by the European Central Bank. The interest rate on my tracker mortgage was 1.5% before the ECB started raising its rate in July. Now it’s almost double at 2.75 pc. Tracker mortgages have always been considered gold dust, but now I’m considering fixing my mortgage because I’m worried the ECB could raise their rates again in the coming months, which would push my mortgage bills even higher. Would it be a good idea to give up my tracker and fix my mortgage?


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