Interest rates.........

System
System Posts: 100,534 🤖 Admin 🤖
edited June 8 in AAT student discussion
.......look like they're going to go up up and away!!

http://news.bbc.co.uk/1/hi/business/6171617.stm

Sorry if that looks like a joyful statement, but for us first time house buyers it might well be.

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Interest rates.........

    We're getting closer to that crash!

    Good for my savings too when the Base Rate goes up again in the New Year
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Interest rates.........

    Shitty news!

    Damn it - beter not crash!

    I'm ok for the next 4.5 years as my mortgage is fixed rate so in that time it can go up to whatever it likes without crashing so long as it drops before I remortgage!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Interest rates.........

    I'll wait till it crashes before I get on the property ladder then me thinks!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Interest rates.........

    One could be waiting a very long time - unless you know something we all don't?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Interest rates.........

    I give it 5 years max. but I think 2 sounds reasonable.

    Yesterday I found that someone from Morgan Stanley is saying 2 years max. and Gordon Brown also said 2 years a short while ago.

    We'll see :D

    Gem
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Interest rates.........

    I think it largely depends where in the nation you are. Certainly all the mortgage lenders are predicting much lower growth in house prices in the north than down south. And these are the people that would never say there is going to be a crash anywhere as this alone might start one.

    There could be many reasons, including the fact that if house prices simply start rising with inflation again, speculators will start to sell as they aren't making any profit. This is what the guy from Morgan Stanley was saying.

    Personally I think the only sure fired way that we could get gob-smacking, drink raising falls is if interest rates go up some more. And for now, interest rates are only going one way - and it isn't down!!


    PS I hated when people used to say house prices are going up, up and away!! But now I can say to them interest rates are going up, up and away!!! Sorry getting a bit obsessive now!

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