MSE News: Eurozone crisis could force mortgage rates up

Former_MSE_Helen

This is the discussion thread for the following MSE News Story:

"Home loan rates could rise as a result of the eurozone crisis, some experts fear ..."

Read the full story:

Eurozone crisis could force mortgage rates up

Paulgonnabedebtfree

But the swap rates have been creeping up for quite a while. My mortgage is based on the 3 month LIBOR. Since the start of the year it's edged up about a quarter per cent. Not much I know but it has definitely accelerated in the past three months. 1% is about £65 a month to me. Fortunately, being self-employed, I have managed to push up my income by rather more than that.

sweetcher

I really don't understand why our mortgage rates should rise for the eurozone crisis and their mistakes?
It seems so unfair we are still in our crisis, and it seems to be getting worse by the week.

Thrugelmir

sweetcher wrote: »

I really don't understand why our mortgage rates should rise for the eurozone crisis and their mistakes?
It seems so unfair we are still in our crisis, and it seems to be getting worse by the week.

UK mortgage rates will rise irrespective of events in the Eurozone. The recent events are just the latest squeeze. As banks globally deleverage their balance sheets.