Guess the rate date challenge...

LittleMissKitty

I'm for 0.25- 0.75% March 2011 but I'm praying Luv2budget's right

LilacPixie

SHHHHHH Billy

In saying that we opted for a fixed rate not a tracker so it doesn't affect me anyway but I do think with the spending cuts a B0E base rate rise could send the house of cards tubling down. You looked at the first direct regular saver????

financialbliss

LittleMissKitty wrote: »

I'm for 0.25- 0.75% March 2011 but I'm praying Luv2budget's right

Hi LittleMissKitty,
Just added you in. August 2011 currently the most favoured month at present for an increase.

Also changed post #1 to reflect December MPC dates.

FB.

wildfrog

Wow, I love all the graphs FB!

I'm going to guess...........May 2012 please. Increase by 0.5%

I was recommended to read a book called the wisdom of crowds...........I never did. But I think it was about how the opinion of the crowds is generally closer to the truth that the opinion of one or two experts. Therefore the average guess here should theoretically be close, although not sure we have enough people for a crowd!

Queen-Bee_2

in another thread, mdr86 posted a chart which plotted the historical interest rates that Martin had blogged about. It's worth a look - link below:
http://www.madanra.com/base-rate-graph.pdf

Anyway, I'd like to join in the challenge please FB! I reckon rates will be forced to remain at an all time low for a while longer, given the problems the economy's like to have when public sector cuts really start to bite. Hence I reckon we might see the first upwards movement in around 8-9 months' time, but that after that it'll stay a mere .25% higher for some time...
QB

golfiematt

exellent graph, it always puts the rate into historic perspective

financialbliss

Next MPC decision due next week.

Reading into this article from TiM, looks like we can expect a no change announcement in the base rate next week, as current predictions are just to rise 0.25% to 0.75% next year:

http://www.thisismoney.co.uk/news/article.html?in_article_id=519239&in_page_id=2&ct=5

I've now got a heightened interest (sorry ) in the base rates as I've just got 3 payment remaining on my fixed rate and should the base rates hold until April 2011, I'll drop onto the Nationwide SVR at 2.5%

FB.

financialbliss

BoE base rate decision announced at 12.00 GMT today, to keep the base rate on hold at 0.5%

More information at BBC news and TiM:
http://www.bbc.co.uk/news/business-11959664
http://www.thisismoney.co.uk/news/article.html?in_article_id=519627&in_page_id=2&ct=5

FB.

financialbliss

"Millions of households face mortgage misery in 2011 because they are vulnerable to higher interest rates, the Bank of England warns today."

"Two-thirds of the country's 12m outstanding mortgages - held by eight million borrowers - are now on floating deals."

That's 7,920,000 on a variable rate. :eek:
Snippets above from article at this is money:

http://www.thisismoney.co.uk/mortgages-and-homes/article.html?in_article_id=519994&in_page_id=8&ct=5


Anyone else want to have a stab at guessing when the BoE base rate will rise? Post here and I'll add to the start of this thread.

FB.

Froggy-G

financialbliss wrote: »

"Millions of households face mortgage misery in 2011 because they are vulnerable to higher interest rates, the Bank of England warns today."

"Two-thirds of the country's 12m outstanding mortgages - held by eight million borrowers - are now on floating deals."

That's 7,920,000 on a variable rate. :eek:
Snippets above from article at this is money:

http://www.thisismoney.co.uk/mortgages-and-homes/article.html?in_article_id=519994&in_page_id=8&ct=5


Anyone else want to have a stab at guessing when the BoE base rate will rise? Post here and I'll add to the start of this thread.

FB.

Hi FB :j

March 2020 increase of 0.25% from 0.5% to 0.75%

I need to be optimistic! Am sorry for all savers!

Cheers

Froggy