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Money Market rates continue to tumble across Europe
Comments
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inspector_monkfish wrote: »LIBORs are not going up anytime soon
Mortgage rates - no idea !!
Aren't many mortgages calculated against the libor rate rather than the BoE rate?
Good to hear that the libor rate isn't going to move, and I suspect the BoE rate isn't either, so no rush just yet to get a mortgage!
"I can hear you whisperin', children, so I know you're down there. I can feel myself gettin' awful mad. I'm out of patience, children. I'm coming to find you now." - Harry Powell, Night of the Hunter, 1955.0 -
Harry_Powell wrote: »Aren't many mortgages calculated against the libor rate rather than the BoE rate?
Good to hear that the libor rate isn't going to move, and I suspect the BoE rate isn't either, so no rush just yet to get a mortgage!
well, certainly in the olden days (about 12mths ago) i believe that 3mth LIBOR was often a key rate when lenders set some of their mortgage rates
Now, I believe they just make it up as they go along..... Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
inspector_monkfish wrote: »well, certainly in the olden days (about 12mths ago) i believe that 3mth LIBOR was often a key rate when lenders set some of their mortgage rates
Now, I believe they just make it up as they go along.....
probably for SVR rates but... i would have though that for Fixed Rate mortgages that the lender would go on to the Money Market and buy a tranche of money for X% rate - they then put their diferential percentage as their margin on this amount, then offered it to borrowers that was the Fixed Mortgage Rate.0 -
probably for SVR rates but... i would have though that for Fixed Rate mortgages that the lender would go on to the Money Market and buy a tranche of money for X% rate - they then put their diferential percentage as their margin on this amount, then offered it to borrowers that was the Fixed Mortgage Rate.
maybe something like that, probably a wee bit more complex
nowdays, very few banks will lend large amounts like they used to, to the big mortgage lenders
as an example of this, the bank i work for has completely cut its credit lending line to Abbey and Nationwide (and Northern Rock line went ages ago !!) among many others.
this is common practice throughout the money marketsPlease take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0
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