Mortgage rates set to soar

Flight2quality

grizzly1911 wrote: »

A bit like the Penny Falls, at the movement we are dropping bits in to keep it going at some point it will go over the edge.

And when it does drop over the edge all the props holding up high property prices will fail. The government can not afford these high housing benefit payments and to keep paying mortgage interest of low income families. Yes the flood of repo's will be big but they should not have kept the props in so long. t is now unavoidable.

justjohn wrote: »

Ye scary stuff...i hope they do romp up the mortgage rates. Then hopefully they will start reposessing.

Romping up the bank rates will not save this country anyway....it will just line the pockets of the banks and flood the market with repo's.

When rates do go back to more normal levels the auction houses will be flooded with repo's. No rush though this situation will last a while wait for the free market to find the correct value for property. Sooner they take the props out the better, how much longer can house prices defy gravity?