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No interest rate rise in 2011
Sibley
Posts: 1,557 Forumite
Well we can all breath easy.
No rate rises this year for sure and low rates for 2012.
There is no chance of house prices crashing now. Homeowners are laughing all the way to the bank. We have all realised interest rates are what matters not some silly house price index at the end of the month. Even if Nationwide data said my house rose in value 100% next month how would it effect me? Rates going up would leave less money in my pocket. As I'm not selling that is more important to me now.
I've bought a new car with the money I've saved. If we can just get another year or so of low rates it will be like getting it for free.
No rate rises this year for sure and low rates for 2012.
There is no chance of house prices crashing now. Homeowners are laughing all the way to the bank. We have all realised interest rates are what matters not some silly house price index at the end of the month. Even if Nationwide data said my house rose in value 100% next month how would it effect me? Rates going up would leave less money in my pocket. As I'm not selling that is more important to me now.
I've bought a new car with the money I've saved. If we can just get another year or so of low rates it will be like getting it for free.
INTEREST rates are unlikely to rise until possibly as late as November due to major uncertainties over the UK’s growth outlook, economists are predicting ahead of this week’s monetary policy meeting
Read more: http://www.express.co.uk/posts/view/238442Growth-stalls-interest-rate-rise#ixzz1IQ9TaCVB
Read more: http://www.express.co.uk/posts/view/238442Growth-stalls-interest-rate-rise#ixzz1IQ9TaCVB
We love Sarah O Grady
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Comments
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Hard to imagine the fallout if the MPC were to raise rates against the wishes of the Government. Won't arise, because the bank controls four votes and Posen will stay with them. Will get interesting if the other four all vote strongly the other way for months on end. But the only issue is whether Osborne will ever be forced to take responsibility for inflation."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0
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Well we can all breath easy.
No rate rises this year for sure and low rates for 2012.INTEREST rates are unlikely to rise until possibly as late as November due to major uncertainties over the UK’s growth outlook, economists are predicting ahead of this week’s monetary policy meeting
Read more: http://www.express.co.uk/posts/view/238442Growth-stalls-interest-rate-rise#ixzz1IQ9TaCVB
So new years eve is 31st October this year? Thanks for the heads up.0 -
fingers crossed the interest rates stay low well into 2014.Emergency savings: 4600
0% Credit card: 1965.000 -
Well we can all breath easy.
No rate rises this year for sure and low rates for 2012.
(1)There is no chance of house prices crashing now. (2)Homeowners are laughing all the way to the bank. We have all realised interest rates are what matters not some silly house price index at the end of the month. Even if Nationwide data said my house rose in value 100% next month how would it effect me? Rates going up would leave less money in my pocket. As I'm not selling that is more important to me now.
(3)I've bought a new car with the money I've saved. If we can just get another year or so of low rates it will be like getting it for free.INTEREST rates are unlikely to rise until possibly as late as November due to major uncertainties over the UK’s growth outlook, economists are predicting ahead of this week’s monetary policy meeting
1) Unemployment is rising
2) No they're not, unless by 'owner' you're on about someone who lives in a house owned by the bank.
3) Another one not doing the sensible thing of paying down the mortgage & who will complain when rates rise0 -
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undetterred wrote: »3)Life is for living and enjoyment.
I agree & the faster you pay down the mortgage the quicker you can do this & have more to have fun with in the long run. But you still have to live within your means.0 -
3) Another one not doing the sensible thing of paying down the mortgage & who will complain when rates rise
There's nothing sensible about paying off a mortage with a rate of only just over 1% when my savings are earning around 4.5 - 5%Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
chucknorris wrote: »There's nothing sensible about paying off a mortage with a rate of only just over 1% when my savings are earning around 5%
True, if you're lucky enough to have a savings rate higher than the mortgage. But the OP impies that they don't have savings & going out spending what they've saved in mortgage interest.0 -
I'm not sure I would look to the Express for financial advice. I think there will be 2-3 interest rate rises between 0.5% and 1%...inflation is too high and will need to be brought down under 3% by next year.0
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undetterred wrote: »3)Life is for living and enjoyment.
If that were true, we'd never have Labour governments.0
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