In October 2007 I switched to a fixed interest rate of 7.85% for five years.
It turned out to be a terrible punt. The Global Financial Crisis hit the following year, with interest rates dipping to record lows. I shudder to think how much money I might have saved if at that point I’d locked in a low fixed rate. Maybe there’s an alternative universe version of me who held off in 2007, and took advantage of that.
Even now, my bank’s variable rate is 7.80%.