---
title: Locking in the rate or staying flexible? Mortgage refinancing around an interest rate shock
url: https://www.ml-quant.com/papers/repec/boe-boeewp-023579/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-10-02
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: RePEc:boe:boeewp:023579
source_url: https://econpapers.repec.org/RePEc:boe:boeewp:023579
featured: 2026-10-02
citations: unknown
topic: Portfolio & Allocation
---


# Locking in the rate or staying flexible? Mortgage refinancing around an interest rate shock

The study finds that UK borrowers shifted toward two-year fixed mortgages despite higher pricing after the 2022 rate shock, seeking flexibility and rate protection rather than minimizing immediate costs.

- Source: https://econpapers.repec.org/RePEc:boe:boeewp:023579
- Identifier: RePEc:boe:boeewp:023579
- Released: 2026-09-21
- First featured: Quant Letter No. 133 (2026-10-02): https://www.ml-quant.com/issues/2026-10-02/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Portfolio & Allocation
- Authors: Philippe Bracke, João F. Cocco, Elena Markoska, Purnoor Tak

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