gazza.1990
Winger
Chase putting their saver up from 2.1 to 2.7% announced today... probably still some better easy access ones out there and no doubt some others will up theirs in the coming days too.
Interest Rates to rise this week?
- Thread starter Big Jeff
- Start date
Ciro_DiMarzio
Winger
It's going to absolutely cripple housebuilders. Loads of half built estates that they're going to struggle to sell houses on now.
Mackem00
Striker
It's not good for anyone other than the retirees/pensioners/no mortgage people. Apart from the usual well off who aren't really properly affected by anything like this.
Swindon On Tour
Striker
Usually 10% per annum on the outstanding balance,
We‘ve all had to struggle and make sacrifices and choices.
Can only hope the recession eases as predicted. Our friend Putin has a lot to answer for with his actions.
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r@mside
Striker
Christ, are you trying to make a party political issue out of it?
There's always winners and losers. It was shite for a lot of people stuck in communities wrecked by the closure of nationalised industries, great if you could move to prosperous areas and had a skill that was in demand and btw, we've never had a socialist government in this country.
Big Jeff
Winger
The Bank of England is expected to raise interest rates for the 10th time at midday, but analysts predict it is nearing the peak.
The benchmark rate is widely expected to go up from 3.5% to 4%, after the Monetary Policy Committee meeting.
The rate is already at its highest level for 14 years.
The benchmark rate is widely expected to go up from 3.5% to 4%, after the Monetary Policy Committee meeting.
The rate is already at its highest level for 14 years.
5% is the historic average base rate at the BOE over the past 300 years or so, wouldn't be surprised if it gets to and sits around that level for some time.
SMB interest rate predictions haven’t gone very well so far
Walter H. White
Winger
Brilliant. Mortgage is due for renewal and it’s already expected to be an extra £100 a month. Our advisor told us to wait a couple more months in the hope of it coming down.
SMB interest rate predictions haven’t gone very well so far
Aye, but in fairness I've listened to senior economists from the major banks be wrong year after year on rates too.
You can only make the best decision based on what you know.
As you said, the long term average is 5-6%.
I took a 10 year view when I last re-mortgaged as the rates were historically low, and it suited my circumstances.
People have mainly benefitted over the past 10-12 years, I suppose that it’s all averaged out over the lifespan of a typical 25 year mortgage.
7-2 in favour of the rise.
monkeytassle
Striker
They've made a mess of this.
Shambo
Striker
gap between average earnings and average house price widening makes that more and more difficult though (I think)
Ciro_DiMarzio
Winger
Do you think they're raising it too far? Doesn't seem to be having much effect on inflation and I'm still of the uneducated opinion that energy prices are the main driver for inflation. This announcement on the same day Shell have announced their massive profits seems very silly.
Jasper
Striker
Why?
Ciro_DiMarzio
Winger
This. Also people have little to no disposable income due to higher mortgage/energy costs will be shite for the economy long term. It's an absolute mess.
I’d expect a couple of 0.25% increases in spring/ summer. Having said that inflation looks like falling quicker than expected.
