Interest Rates to rise this week?

[Hettonlass]

Again today?

 

[Big Jeff]

As we expected up to 4.5%.

We may see another rise next month. Prices will remain high.

 

[monkeytassle]

They are now making a phenomenal error. This is danger territory.

 

[Ciro_DiMarzio]

They are now making a phenomenal error. This is danger territory.

Do you think they will end up have to rapidly drop it back down soon?

 

[the dude]

Do you think they will end up have to rapidly drop it back down soon?

Hopefully before my deal ends in 2024.

 

[Dave Herbal]

Well at least might start to see a boost to savings...

Obviously swings and roundabouts

Who has savings?

 

[tenpins]

Who has savings?

Quite a few people I’d imagine. Plenty take their lump sums from pensions etc. Others downsizing from bigger properties etc. Now my kids have left Uni and are working the difference in monthly outgoings is huge. I can see why people will struggle though as everything is costing more these days.

 

[Roaring Chubby]

Bloody hell. People with big mortgages are getting battered.

 

[Select coaches]

Who has savings?

Everyone should have a little bit squirrelled away in case of emergency

 

[Roaring Chubby]

I presume typical deals are about 4% up versus a couple of years ago. That’s an extra 4 grand of interest per 100k borrowed so if you have a balance of 300k that’s an extra 12 grand a year just in interest?

 

[Ciro_DiMarzio]

Hopefully before my deal ends in 2024.

Mine is until 2026 but I keep checking how much my payments will increase anyway because I'm a natural worrier.

 

[bomber]

Bloody hell. People with big mortgages are getting battered.

Sell and buy cheaper.

 

[Cee Jay]

Who has savings?

well reading on here some clearly do.

 

[Roaring Chubby]

Sell and buy cheaper.

Some might have to. Per my post above if your mortgage is going up by a grand a month plus all the other cost rises, many will sink for sure. Some houses could be absorbing a 2 grand a month hit versus a few years ago all things considered.

 

[Ramshanker]

Print more fecking money & keep the rates low?

 

[Ciro_DiMarzio]

Some might have to. Per my post above if your mortgage is going up by a grand a month plus all the other cost rises, many will sink for sure. Some houses could be absorbing a 2 grand a month hit versus a few years ago all things considered.

There will be a lack of buyers for houses round here with big mortgages though so people who already own them will be stuck with them or may have to sell at a loss and be left with nowt.

Print more fecking money & keep the rates low?

Or just acknowledge that energy prices are the main cause of inflation and interest rate rises are having minimal impact on it.

 

[bomber]

Print more fecking money

Brilliant idea...

 

[The]

Print more fecking money & keep the rates low?

Thats one of the reasons we're in this shit

 

[Dave Herbal]

Everyone should have a little bit squirrelled away in case of emergency

That would imply they have no debt. Who has no debt?

 

[Jap Stammer]

That would imply they have no debt. Who has no debt?

Me and my missus have both debt and savings.

It's how you balance it out that matters.