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Debate House Prices
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House Price Crash Discussion Thread
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Even the Halifax & Nationwide are having to admit what the rest of us have been seeing for a couple of months now, & they always put there own spin on things as you would expect...In reality I suspect it is more than the 1.1% & is without doubt set to accelerate in the coming months...whatever the BOE do with rates !!!!Halifax figures today show a drop in house prices of over 1% in the last month.
http://news.bbc.co.uk/1/hi/business/7128308.stm0 -
Oh Silly me !!!! Just realised the BOE meet tommorow for their monthly review of rates !!! I wondered why they were being quite so honest for a change.....This isnt a Cynical attempt by the Halifax to influence the decision..surely not !!! :rolleyes:0
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ivegotabig1 wrote: »Even the Halifax & Nationwide are having to admit what the rest of us have been seeing for a couple of months now, & they always put there own spin on things as you would expect...In reality I suspect it is more than the 1.1% & is without doubt set to accelerate in the coming months...whatever the BOE do with rates !!!!
Personally I expect a cut tomorrow. There is no justification for it, inflation is still high and getting worse, but the Government will want to try to head off this growing crisis.
To be honest I don't think a rate cut will make much difference. I can't see many banks cutting the mortgage rate even if the base rate falls, judging by the rates that they are lending to each other at and, as cash is so precious at the moment, I can't see many banks cutting savings rates and risking customers going elsewhere.0 -
BOE dont care 2 monkeys that idiots have geared themself up with loans to do crazy speculating. The BOE has to control inflation and growth and that has nothing to do with house price speculators. They can all end up bankrupt as far as they are concerned.
There will be no IR drop this month!0 -
I'm with Yant1 on this. I don't think there will be a cut this month. If there is I think that's rather irresponsible of the BOE considering inflation.0
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There will be no IR drop this month!
I hope you are right Yant as Sterling is looking bad at the moment & lost 1% against the Euro yesterday....yep, in one day.
Still that would be good for a certain person's Spanish portfolio....
..if only Brit ghetto concrete boxes were worth something
http://www.fxstreet.com/rates-charts/currency-rates/symbol.aspx?id=EURGBP0 -
BOE dont care 2 monkeys that idiots have geared themself up with loans to do crazy speculating. The BOE has to control inflation and growth and that has nothing to do with house price speculators. They can all end up bankrupt as far as they are concerned.
There will be no IR drop this month!
If the BOE was truly independant I would agree with you. Pressure from the media and business on the goverment may well cause a cut tomorrow. I think it will be a very close call ....... 5/4 either way.0 -
Romani_Ite_Domum wrote: »If the BOE was truly independant I would agree with you. Pressure from the media and business on the goverment may well cause a cut tomorrow. I think it will be a very close call ....... 5/4 either way.
That's what I meant, though I may not have been particularly clear
There is no way, with current economic problems, that the rate should be cut, but I just have this sneaking feeling that the BOE, who under no circumstances operate independently of the government, will bow to pressure and cut a little as a token gesture. Christmas cheer and all that
I sincerely hope that I am wrong0 -
I think it will be close call too... However Opec have ruled out increasing production today, so that will mean increased fuel costs & thus inflation .at least in the short term.. So perhaps that will sway things in favour of holding rates as they are0
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Does anyone know what all these fixed rate mortgage deals that are due to finish soon were priced at, ie interest rate, I see in other threads that there are loads of new fixed rate's going about for 5/6% etc.
It was the exact same when gas and electricity prices went up and everyone signed up to three year fixed price, now they've halved and some folk are still stuck on those deals!Thanks to all the competition posters.0
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