Guess the rate date challenge...

financialbliss

Well,

As this is a much smaller "challenge" than the MFiT-T2 challenge, you've been put in second place for a few days while I update charts and publish data etc. for MFiT-T2.

So, just a quick note to say that I've added:

kkgree1
curlygirl1971
Engeroosi
kingster2069

into post #1 and the chart.

FB.

kingster2069

Well just seen this article http://www.bbc.co.uk/news/business-13871449 looks like the new member of the BoE rate-setting committee is more dovish than the his predecessor, Andrew Sentance.
Might mean interest rate rise might be pushed back again, hopefully giving us all a little more time to benefit from the low interest rates :j

cha97michelle

Interesting. Thanks for sharing that, and let's hope things go our way for a lot longer yet. It is certainly helping me.

curlygirl1971

Just because I'm a bit sad and I like tormenting myself I've worked out what my Standard repayment would be next month if BOE went up to the following %'s (Okay, highly unlikely to shoot upto 10% all in one go )

I currently owe £32294 and at 0.5% my standard repayment would be £219, if indeed I was just paying that.

0.75% 223.93
1.00% 228.85
1.25% 233.81
1.50% 238.82
1.75% 243.87
2.00% 248.97
2.25% 254.11
2.50% 259.28
2.75% 264.50
3.00% 269.76
3.25% 275.06
3.50% 280.40
3.75% 285.77
4.00% 291.19
4.25% 296.64
4.50% 302.13
4.75% 307.65
5.00% 313.21
5.25% 318.80
5.50% 324.43
5.75% 330.09
6.00% 335.78
6.25% 341.51
6.50% 347.26
6.75% 353.05
7.00% 358.87
7.25% 364.72
7.50% 370.60
7.75% 376.51
8.00% 382.45
8.25% 388.42
8.50% 394.42
8.75% 400.44
9.00% 406.49
9.25% 412.57
9.50% 418.68
9.75% 424.81
10.00% 430.97

Whilst it will be highly annoying to loose the benefit of a low BOE and it has been a complete joy these past couple of years to have such low repayments ........what the above does tell me is that mostly due to OP'ing I can cope with a rise in BOE as my monthly payments at present average at around £423

Only trouble is, I live in a bit of a dump quite frankly and would love to move :cool:

alex_p

[STRIKE]
24. alex_p: April 2011 - INCREASE : 0.25% to 0.75%
[/STRIKE]

Noooooooooooooooooooo! I've been knocked off!

financialbliss

kingster2069 wrote: »

Well just seen this article http://www.bbc.co.uk/news/business-13871449 looks like the new member of the BoE rate-setting committee is more dovish than the his predecessor, Andrew Sentance.
Might mean interest rate rise might be pushed back again, hopefully giving us all a little more time to benefit from the low interest rates :j

Sorry - not managed to get anywhere near MSE this week.

kingster - just seen this article on the new look this is money site:
http://www.thisismoney.co.uk/money/news/article-1607881/Interest-rates-News-predictions.html

Look away now if you're mortgage free and have savings you wish to grow.

Suggestion that the markets now point to July 2012 for the first increase :eek:

FB.

cha97michelle

Wow - that would be most of our 3 year challenge. That would be lovely. We would make great head way in that time as we went onto Nationwide standard mortgage rate of 2.5% in the April as this all happened.

Fingers crossed, and thanks for sharing FB.

Intoodeep

November 2011 up 0.25% to 0.75%

financialbliss

Hi,
Just added Intoodeep into this little challenge.

With all of the store closures that have been reported in recent days:

BBC:
http://www.bbc.co.uk/news/business-13941983

TiM:
http://www.thisismoney.co.uk/news/article-2008971/Thorntons-close-180-stores-blow-high-street.html

The economy does look rather fragile! I suspect that it's just now that the austerity measures and household cutbacks are starting to have an effect on the economy.

What sort of mess ARE we in if the rate setting committee don't think the economy can handle a quarter percent increase?

Really didn't think this thread would run for this long. Started in August 2010 and I can easily see it reaching it's first birthday without the base rate rising...

FB.

cha97michelle

I've just seen all this on the news, and i am finding it all a bit crazy. I am feeling a bit guilty about not spending, even though we are spending quite a bit on just the essentials. I am going to try and be a bit more considerate of where my pennies are being spent i think.

Part of me is thinking it is part of a shake up of high street chains into matching consumer needs more, as some stores are really thriving (cheap ones) whereas the less flexible ones are going.

Interesting that DFS have more stores planned. I guess they are doing well if everyone is sat at home. Anyone can go and buy a sofa at 0% can't they.