Rates to hit 2% next year.

Graham_Devon

IveSeenTheLight wrote: »

Mewbie, I hope this is hitting home with you today.

Three times, you make brash comments without any real thought or research into the facts and three times, you've been proven wrong.

Sometimes its better to think before speaking (typing)

I bet you whine like a little girl!

mewbie_2

IveSeenTheLight wrote: »

Mewbie, I hope this is hitting home with you today.

Three times, you make brash comments without any real thought or research into the facts and three times, you've been proven wrong.

Sometimes its better to think before speaking (typing)

You really are a bit of a pompous twit at times.

System

I wasn't brave enough to to gamble with not re-fixing, so my mortgage has gone from 20% of take home to 19%, although that does include swapping from interest only to repayment

ess0two

Graham_Devon wrote: »

I bet you whine like a little girl!

Cmon Dev you gotta admit these IR rises are gonna mean jack !!!!,the majority are paying well over the current IR's.
And those lucky enough to a low tracker had more than likely previously paid 4%+ on past products.
Yet the same line is trumpetted about people struggling to pay when these low rates finish.

Graham_Devon

ess0two wrote: »

Cmon Dev you gotta admit these IR rises are gonna mean jack !!!!,the majority are paying well over the current IR's.
And those lucky enough to a low tracker had more than likely previously paid 4%+ on past products.
Yet the same line is trumpetted about people struggling to pay when these low rates finish.

Of course it will mean something. I'm ot sure whether you are just being fiscitious (sp) by saying that.

It will mean less disposable income for those on current SVR's, will probably mean rises in existing deals out there (don't know why anyone thinks current deals will stay the same when they are going up each month at the moment anyway).

Less disposable income is the main thing though, as that will drive sentiment more than anything else in this country.

At the moment we have a lot of people actually richer in disposable cash terms in a recession than they were at any point in the last decade. You only have to look at the "how has it effected you" threads to see people can't see past their own pockets.

the_ash_and_the_oak

IveSeenTheLight wrote: »

It wouldn't be more than they were paying when they agreed the mortgage

while this is correct and I'm sure everybody herewas quite comfortable paying what they did before rates dropped don't agree you can extrapolate that to the wider market. Think the rate cuts did have a positive effect in reducing forced sales, thats been taken out of the equation. A return towards previous levels would begin to bring that back into the equation again imo

that said - think the effect any future rises will affect future borrowers capacity rather than current owners particularly (though think there is a pool of vulnerable and exposed recent (over)borrowers that would come under pressure from a rise to anything approaching previous levels)

ess0two

Graham_Devon wrote: »

Of course it will mean something. I'm ot sure whether you are just being fiscitious (sp) by saying that.

It will mean less disposable income for those on current SVR's, will probably mean rises in existing deals out there (don't know why anyone thinks current deals will stay the same when they are going up each month at the moment anyway).

Less disposable income is the main thing though, as that will drive sentiment more than anything else in this country.

At the moment we have a lot of people actually richer in disposable cash terms in a recession than they were at any point in the last decade. You only have to look at the "how has it effected you" threads to see people can't see past their own pockets.

I'm literally foaming at the mouth at the mo,i'm tied in @ 4.89 till May next year.
When i get out of this,there are some tasty rates at the mo,which i'm hoping will be around then.

StevieJ

ess0two wrote: »

Cmon Dev you gotta admit these IR rises are gonna mean jack !!!!,the majority are paying well over the current IR's.
And those lucky enough to a low tracker had more than likely previously paid 4%+ on past products.
Yet the same line is trumpetted about people struggling to pay when these low rates finish.

Not only that, remember the 'wait till they come off those two year fixes' as the bearish folk were expecting much higher base rates 5.75% + and mortgage rates 7.5% plus just a couple of years ago.

Graham_Devon

StevieJ wrote: »

Not only that, remember the 'wait till they come off those two year fixes' as the bearish folk were expecting much higher base rates 5.75% + and mortgage rates 7.5% plus just a couple of years ago.

And you were expecting base rates at this level were you stevie?

Why didnt you say at the time?

the_ash_and_the_oak

StevieJ wrote: »

Not only that, remember the 'wait till they come off those two year fixes' as the bearish folk were expecting much higher base rates 5.75% + and mortgage rates 7.5% plus just a couple of years ago.

not sure about this. pretty sure the (heated) debate in the bearish camp around that time was between inflationists and deflationists so not really feeling the idea there was any consensus re:higher rates imo