MSE News: Base rate held again as committee await emergency Budget

mbga9pgf

I still believe average prices are going to 120K average before they go above 200K. Real prices.

chucky

mbga9pgf wrote: »

I still believe average prices are going to 120K average before they go above 200K. Real prices.

maybe but that isn't what you were saying.

mbga9pgf

chucky wrote: »

maybe but that isn't what you were saying.

Hell, they may go as low as 115K. Who knows? I reckon 20% is easily in the system though over the next few years. The supply problem is almost sorted and mortgage lending is about to seriously dry up.

JimmyTheWig

andyroberts1967 wrote: »

I adjusted to the new rates by making capital overpayments whilst renegotiating a better mortgage deal. When the rates do eventually rise, the only adjustment I will have to make is possibly reducing or stopping these overpayments.

Yes, of course I didn't mean everyone. I'd like to think that most on here were doing something similar.
In our case we've done s*d all to adjust as we're on a 5 year fixed rate ending in January. Interestingly, applying for a 5 year fixed rate today would give us a similar rate to what we got when base rates were "high" 4 years ago.

[I say "high" in inverted commas because I mean high compared to now, not compared to what they'll be in three years time.]

inspector_monkfish

JimmyTheWig wrote: »

Yes, of course I didn't mean everyone. I'd like to think that most on here were doing something similar.
In our case we've done s*d all to adjust as we're on a 5 year fixed rate ending in January. Interestingly, applying for a 5 year fixed rate today would give us a similar rate to what we got when base rates were "high" 4 years ago.

[I say "high" in inverted commas because I mean high compared to now, not compared to what they'll be in three years time.]

where u think rates will be in 3yrs time James ?

JimmyTheWig

inspector_monkfish wrote: »

where u think rates will be in 3yrs time James ?

If I had to guess I'd say around the 7.00%/7.25% mark.
I'd be more shocked if they were as low as 4% than if they were as high as 10%.

But the good news is that I see that as the high point. I think that 5 years from now they'll be around the 5.00% mark.

inspector_monkfish

JimmyTheWig wrote: »

If I had to guess I'd say around the 7.00%/7.25% mark.
I'd be more shocked if they were as low as 4% than if they were as high as 10%.

But the good news is that I see that as the high point. I think that 5 years from now they'll be around the 5.00% mark.

fair enough
when you said you thought they would be "high" in 3yrs time, i imagined you meant somewhere in double figures.

personally i don't EVER see them get back as high as 5pct

JimmyTheWig

Like I say, if I had to bet on 10% or 4% in 3 years time I'd go for 10% - so I wouldn't be _that_ surprised if they touched double figures.

Hopefully _you're_ right!

Turnbull2000

JimmyTheWig wrote: »

Like I say, if I had to bet on 10% or 4% in 3 years time I'd go for 10% - so I wouldn't be _that_ surprised if they touched double figures.

Hopefully _you're_ right!

Not a prayer. Even in five years time, I doubt rates will be much above 3%.

nembot

Not a prayer. Even in five years time, I doubt rates will be much above 3%.

Can I quote you on that?