Anyone got a graph to show interest rates over last 5 years?

BaileyB

Has anyone got a link to show the rate chnages over the last 5 years please?

poppy10_2

http://www.moneyextra.com/dictionary/Interest-rate-history-003455.php

Rikki

Not graph but the rates are listed on the Bank of England site. CLICK HERE



I found a graph.

Rikki

I thought these figures might help too.


10 April 08 5.00 7.00
07 Feb 08 5.25 7.25

2007
06 Dec 07 5.50 7.50
05 July 07 5.75 7.75
10 May 07 5.50 7.50
11 Jan 07 5.25 7.25

2006
09 Nov 06 5.00 7.00
03 Aug 06 4.75 6.75

2005
04 Aug 05 4.50 6.50

2004
05 Aug 04 4.75 6.75
10 Jun 04 4.50 6.50
06 May 04 4.25 6.25
05 Feb 04 4.00 6.00

2003
06 Nov 03 3.75 5.50
07 Aug 03 3.50 5.50
10 Jul 03 3.50 5.00
08 May 03 3.75 5.00
10 Apr 03 3.75 5.00
06 Mar 03 3.75 5.00
06 Feb 03 3.75 5.00
09 Jan 03 4.00 5.00

Wutang_2

Can anyone now please provide a graph for the next 12 months please??

thanks in advance

dunstonh

Rikki wrote: »

Not graph but the rates are listed on the Bank of England site. CLICK HERE



I found a graph.

It sort of makes a mockery of all those people who are complaing of high interest rates and not being able to afford their mortgage payments. They dont know how lucky they are compared to the problems that occured in the 90s.

Wutang_2

It sort of makes a mockery of all those people who are complaing of high interest rates and not being able to afford their mortgage payments.

no it doesn't...if you were a first time buyer a year or two ago and your rate is shooting up by a couple of percent - who cares what the rates were like back in the 'bad-old-days'. Not all of us remember "the crash".

Rikki

I was taking my first mortgage out in 1989.

I started at 12% and then it shot up to 15%. It was a difficult few years I can assure you.

It was nice having a home of my own but it was full of secondhand furniture and the like because there was no money for new. It was make sure the mortgage was paid and see whats left.

I certainly wouldn't like to see the rates go back that high again. I could possibly afford double my monthly payment now but not tripple.

poppy10_2

dunstonh wrote: »

It sort of makes a mockery of all those people who are complaing of high interest rates and not being able to afford their mortgage payments. They dont know how lucky they are compared to the problems that occured in the 90s.

Not really. In the 90s there was high wage inflation - so if you were paying 12% interest but your wages were rising at 10% it didn't seem so bad.

Also, when interest rates went up from 12% to 15%, your monthly interest payments rose by a quarter, - whereas someone these days coming off a 4% fix onto a 7% SVR will find their payments rising by 75%.

dunstonh

no it doesn't...if you were a first time buyer a year or two ago and your rate is shooting up by a couple of percent - who cares what the rates were like back in the 'bad-old-days'. Not all of us remember "the crash".

When rates were 4% then it is pretty short sighted to think they are going to stay that low. At least you would have thought people would have budgeted for the typical average (which we are still below at the moment).

We had a long period of sustained good times and it looks like many people squandered it rather than planning for that rainy day.

Also, when interest rates went up from 12% to 15%, your monthly interest payments rose by a quarter, - whereas someone these days coming off a 4% fix onto a 7% SVR will find their payments rising by 75%.

Yes. But many of those paying the 12%-15% had been paying 6-7% not too much earlier. A 100% rise.

When the rate went so much higher than the average you had sympathy. Its harder to feel that when the rate was knowingly so cheap and really could only go in one direction. I know that there will be genuine hard done by cases out there and I dont aim that comment at them. However, too many are guilty of laziness, bad planning and often greed (as in getting as much credit without thinking through the consequences). And yes, the banks and other lenders take some of that responsbility as well. However, we have to be careful not to remove too much personal responsibility.

Ian_Griffiths_Halifax

People were receiving MIRAS for many years, which did give some benefit in reducing payments, and as the property prices were less at that time, the mortgages were obviously smaller.