Stephen Hamilton: Tracker mortgage customers still have options amid rate hikes

What goes up must come down, as the saying goes, but that may not hold true regarding mortgage interest rates.

The fact is that nobody can predict the trajectory of future mortgage interest rates with any degree of certainty. Pic: Colin Keegan

In the last 12 months, the European Central Bank has increased its marginal lending rate from almost zero to 4.25%. Anyone with a tracker mortgage has felt the full brunt of this, with thousands added to their annual mortgage repayments. 

More pain is also coming for those on variable rates and those coming to the end of their fixed mortgage rates.