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Swap rates lowering and 5.97% fixed rate
IveSeenTheLight
Posts: 13,322 Forumite
An article showing swap rates are lowering and an avilable 5.97% 10 year fixed rate.
Catch is it is only for 60% LTV which only accounts for 50% of the mortgage market.
Still, worth considering if you are concerned about rising interest rates
http://firstrung.co.uk/articles.asp?pageid=NEWS&cat=21
Catch is it is only for 60% LTV which only accounts for 50% of the mortgage market.
Still, worth considering if you are concerned about rising interest rates
http://firstrung.co.uk/articles.asp?pageid=NEWS&cat=21
:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:
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Comments
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RBS are lowering all of thier fixed rate today.0
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Cue, doom-mongering MSE'rs who want a really deep recession & all borrowers doing public penance trying to spin this to be BAD NEWS.US housing: it's not a bubble
Moneyweek, December 20050 -
kennyboy66 wrote: »Cue, doom-mongering MSE'rs who want a really deep recession & all borrowers doing public penance trying to spin this to be BAD NEWS.
Most people got past the 'denial' phase a few months back, Kenny :rotfl:--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
Just because one bank lowers rates means that a deep recession is not going to happen.kennyboy66 wrote: »Cue, doom-mongering MSE'rs who want a really deep recession & all borrowers doing public penance trying to spin this to be BAD NEWS.
We are in deep poo and are likely to stay that way for several years to come.0 -
Just because one bank lowers rates means that a deep recession is not going to happen.
We are in deep poo and are likely to stay that way for several years to come.
Sadly I'd agree 100%.
What I still can't understand is why people WANT to increase interest rates in a recession, unless they want to repeat the same mistakes of the of the early 80's (by far the worst recession of my lifetime) & make this recession worse than necessary.US housing: it's not a bubble
Moneyweek, December 20050 -
My brother got offered 5.94% fixed for 10 years with Woolich the other day?
Is this really a non-story then?0 -
kennyboy66 wrote: »Sadly I'd agree 100%.
What I still can't understand is why people WANT to increase interest rates in a recession, unless they want to repeat the same mistakes of the of the early 80's (by far the worst recession of my lifetime) & make this recession worse than necessary.
People want increased interest rates to compensate them for the impact on rising inflation on their savings. As you might have noticed, the price of everyday essentials has been rocketing over the last year.
You do know what savings are? Seems like a lot of people these days don't.
If the much-anticipated wave of deflation appears I'll be happy to see lower rates. However, I strongly suspect that those in power will do anything to stop that happening (given the levels of national debt), even up to monetizing the bad debt of the banks == massive inflation.--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
in my local building society window I've just walked by I noticed the following 'First time buyer only offer'
6.99% fixed for 3 years, 95% ltv, 299 fee.
no idea about multipliers though
doesn't look a patch on what was available 12 months agoIt's a health benefit ...0 -
kennyboy66 wrote: »Sadly I'd agree 100%.
What I still can't understand is why people WANT to increase interest rates in a recession, unless they want to repeat the same mistakes of the of the early 80's (by far the worst recession of my lifetime) & make this recession worse than necessary.
kenny unfortunately your arguing with people who have lots of money stashed away waiting for prices to drop - therefore they demand higher interest rates (as i would if i didn't have a mortgage and had lots of money stashed away
) 0
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