Interest rates cut 0.5%

chucky

formulaonefan wrote: »

wow... 0.5% suddenly!! that's going to push the FTSE up through the roof. House price crash cancelled??? - NOT!

damn i missed something - the FTSE is directly linked to House prices!!!!

i must re-read my Economics for Dummies book - would you like to borrow it???

Realy

Best news is FTSE like the cut. shares have jumped on the news.

Conrad

I've put 3 offers on 3 repos this morning. All new build 2 bed flats for around £80k that sold for £180+ at peak to 'investors' that have thrown in the towell.
If I wait the EAs will find more investros flocking to thier doors, so be less inclined to recommend lower offers to the repossessing Banks.

Yield is about 7% and I do not think the prices can fall much further.

BTW - Im only going to buy one of them for now (I think)

As a very seasoned savvy investor said to me only yesterday - there comes a point where you have to grabb opportunitites as they arise and take a long term position.

Over on housepricecrash I kept argueing some time ago that the uber bears would not commit in the trough as they will be fearful things can only get worse. Many will want to see definite rises before they committ and even then some will claim its just a short term / spring bounce

Of course, things could get worse, hey ho

hostman

YAY - Punish savers by reducing rates, great idea

abaxas

Grrrr

So it's base rate -0.5%
Savings rates -0.5%
Mortgage rates -0.0000000000001%

Everyone's a loser! (well apart from the banks)

Chris2685

Quite amusing that they did this while I was taking a dump.. Just heard about it on the radio. Now lets sit back and see what happens...

Heyman_2

abaxas wrote: »

Grrrr

So it's base rate -0.5%
Savings rates -0.5%
Mortgage rates -0.0000000000001%

Everyone's a loser! (well apart from the banks)

Well it'll certainly make it easier for me to pay my mortgage on the BofE Tracker I've got booked for the end of the year

I'll still be a loser though, as we all will, when we have to bail out all those greedy 'savers' who stuck their money in Icesave i.e. off-shore and not helping the UK economy. If early reports are to be believed, they're going to waive the 50K limit for Icesave customers :mad: :mad:

Heyman_2

Chris2685 wrote: »

Quite amusing that they did this while I was taking a dump..

Gee, what a lovely image :rotfl:

speedbird1973

Chris2685 wrote: »

Quite amusing that they did this while I was taking a dump.. Just heard about it on the radio. Now lets sit back and see what happens...

If you just sit back you know what'll happen - your butt'll get all crusty and the water will turn brown!

Mark-W_2

Some of the views on here scare me, you seem to lack any idea of the wider picture.
shocking.