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Inflation "soars" - base rate and mortgage rates to increase?
rjgb
Posts: 133 Forumite
http://www.metro.co.uk/money/809638-inflation-soars-with-the-biggest-ever-rise-in-a-single-month
Will this lead to an imminent rise in the base rate? If so, by how much?
Any comments as to how this might affect available mortgage rates?
Will this lead to an imminent rise in the base rate? If so, by how much?
Any comments as to how this might affect available mortgage rates?
0
Comments
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No - if you look at the causes of the rise, thee is no need to increase rates0
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Bank of England base rate will be 5% by Xmas !!!
Only joking
Who Knows0 -
Typical scaremongering type headlines in the Metro0
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Indeed - who knows. Few people would've guessed base rates would go down so low if you'd asked them a few months beforehand. Interest rates can only go up, and best to make any financial decision while contemplating the fact that 5% is far closer to the 'norm' than 0.5%. Anyone on trackers/SVRs should be planning on how they'll pay when interest rates go up, and saving/overpaying as much as they can.0
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