Commentary from economists all year has suggested that for those on floating mortgage rates a point would come around May to June when one should hop off a floating rate just before it started rising to take a short-term fixed rate of one or two years.
With inflation set to spike higher than economists had predicted as a result of the increase in GST and other levies and imposts, adding to expectations the central bank will begin hiking interest rates at its next meeting on June 10 the likelihood of floating and short-term rates rising is quite high.
