LIBOR still dropping...

inspector_monkfish

Jacka87 wrote: »

I see that the 5yr rates have dropped a little. Does anybody know y these where rising to the peak they where at recently? If so why have they now started to fall? I am looking to remortgage at the moment for a 5 or 10yr fix and thought that since the rates went up recently along with the swap rate rise, that would mean as the swap decreases we may see a reduction in fixed rates. But the mortgage sales personat the bank says the next move for there fixes will defo be up, even tho they just went up!!!

nationwide just cut their fixed rates

sarmia

thats good

ToMoCo

inspector_monkfish wrote: »

LIBORs 10th July

3mth 1.0625 (down 2pts)
6mth 1.28875 (down 2 1/2 pts)
12mth 1.59125 (down 2pts)

Does that crystal ball also do lottery numbers:beer:

Jacka87

Lets hope that the rest of the lenders do the same!

inspector_monkfish

ToMoCo wrote: »

Does that crystal ball also do lottery numbers:beer:

what crystal ball matey ???;);)

belfastgirl23

inspector_monkfish wrote: »

nationwide just cut their fixed rates

Do you mean for mortgages, couldn't find any info on this do you have anything further

Or maybe you meant savings...sorry if so

inspector_monkfish

belfastgirl23 wrote: »

Do you mean for mortgages, couldn't find any info on this do you have anything further

Or maybe you meant savings...sorry if so

mortgage rates for existing customers have been cut

http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/5778404/Nationwide-cuts-mortgage-rates-for-customers.html

inspector_monkfish

LIBORs 10th July

3mth 1.045 (down 1 3/4pts)
6mth 1.27 (down 2pts)
12mth 1.57 (down 2pts)

crispy2_2

5 YEAR RATES 9th July
Swap 3.55
Gilt 2.89 (jump of +0.16%!)

Stuff like this is what really effects long term fixed rates, its all about peoples expectation of how substantial inflation will be in the future:

From FTAlphaville:
TheBank of England sowed confusion in the gilts markets on Thursday, announcing it would suspend its £125bn asset purchase programme, at least for now, but offering no clue to its future thinking. UK government bonds sold off sharply after the Bank disappointed investors by failing to increase its quantitative easing programme, the FT said. Lex believes the Bank may only be pausing for breath, while FT Alphaville noted the gilt purchase programme accounted for almost 10 per cent of UK GDP.

inspector_monkfish

LIBORs 13th July

3mth 1.02125
6mth 1.24438
12mth 1.54875

all down about 2 1/2pts