Is a fixed-rate mortgage better than a tracker rate in the current economic climate?

I’m about to renew my mortgage and am looking into various options. Given the current economic climate and the fact that interest rates have been incredibly low over the past year or so, I’m wondering whether a fixed-rate mortgage option is better than a tracker rate. Fixed-rates are higher but will protect me from any rate increase… but tracker rates being lower, it would take several rate increases for them to become less compelling than a fixed rate… Any advise?

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Tags: economic climate, fixed rate mortgage, interest rates, mortgage option, rate increase, rate increases