Interest rate cut in November?

niadoz

Hi there,
I'm just about to by my first house. We are interested in the fixed rate mortgages. I'm just wondering whether its worth us waiting until beginnig of Novembert to see it there is going to be another cut in the interest rates? Does anyone know when the minutes for the MPC meeting will be published. Thanks x :beer:

meanmachine_2

Depends on inflation figures - due out this week, I believe.

Plus a number of other factors.

According to Sunday papers, no cut this year, but the possiblity of one next year (unlikely in my opinion).

I'd say it's still 50:50 for November.

zag2me

Im sure there wont be a cut, inflation is rising.

MarkyMarkD

Fixed rates do NOT follow base rate in any case, so I wouldn't advise waiting. The last few moves in fixed rates have been upwards.

meanmachine_2

Inflation is UP, but to 2.5% not 2.7%

So again the cut in November remains in the balance. But as Marky says, fixed rates tend to move in anticipation of interest rates a few months hence, and they've been going up, not down, so I doubt waiting will make much difference.

Innys

As fixed rates are for a minimum of two years, I believe they will come done at some time before the end of 2007. Therefore, I have gone for a 2 year tracker (remortgaged last month).

However, is a question of how prepared you are to gamble. As my mortgage isn't a crippling amount anyway, I could live with some payments being higher than the equivalent fixed rate, at least for the first few month.

My preference aside, I reckon interest rates will come down anyway. The only thing that may stop this is inflation, but I feel it will drop to 2% again by this time next year, at the latest.

FaTB

Read this, and then decide for yourself what way IR's are going

http://www.housepricecrash.co.uk/forum/index.php?showtopic=17634

FaTB

Zag2me,

Oi !! Youv'e got my avatar !!

zag2me

hehe yeh but i got it from another forum

Time to find another one i think

ivegotabig1

niadoz wrote:

Hi there,
I'm just about to by my first house. We are interested in the fixed rate mortgages. I'm just wondering whether its worth us waiting until beginnig of Novembert to see it there is going to be another cut in the interest rates? Does anyone know when the minutes for the MPC meeting will be published. Thanks x :beer:

No chance this side of 2006 IMO, high street sales although sluggish have not been quite as bad as they could have been accrding to latest figures & inflation is above target, according to the BOE minutes of their last meeting a rate cut wasnt even discussed, perhaps febraury next yr, once the crimbo retail figures are annouced..

nelly_2

If you are bothered then wait. Whats a month? nothing out of the next 25 years.


Theres no rush houses arnt going anywhere.