will interest rates go up again this month?

Plasticman

I suspect it will be a very close thing this month but I'm putting my money on a 0.25% rise.

movieman

If the BoE have any sense they'll raise rates this month.

So the real question is whether you think they have any sense .

free4440273

everyone knows my views on this already - but will bore you all once more. they should indeed go up (real inflation is far exceeding three per cent - and they don't even admit it has reached three per cent!). rates won't go up because the BofE is just plain incompetent now. a cliché to say it i know but for me all eyes are now on the fed: they won't be reducing rates anytime soon and (therefore) neither will we. has the day of the saver finally arrived? i hope so, my nationwide bond expires in Oct 2007.

Zammo

Mrs_Optimist wrote:

There will be more rate rises (in my humble opinion) and then it will level out before dropping again. We are coming to the end of a 5 year fixed rate, taken out in 2002 when rates were starting to go up. We have only reaped the benefit in the last 6 months or so, because of course rates went down just after we fixed, and continued to go down. Luckily our small mortgage meant we were paying a few extra pounds per month but now we are about to more than double our mortgage by moving we are going for a 2 years tracker. At least when rates fall again (and they will do, just not yet) we will reap the benefits. Over the 2 years we calculate that we wont be paying over the odds by using this type of mortgage. with a fixed rate, we have been.

What makes you think they're going to fall again? They've been at historically low levels for 5 years and are only now returning to the long term average of 7%. You really are living up to your username if you think they're now reaching a peak, if anything they are still far too low. Good luck with your tracker mortgage, I suspect the banks need people like you to offset all the sensible people quickly getting tied into fixed rates before it's too late.

PoorDave

If the market sentiment braces itself for a raise this month, then it's good/average news if rates stay the same/go up.

However, if the market expects no rise, as we had one last month, then a raise is bad news, as it's more of a surprise.

Sentiment is important.

Put me down for 0.25% up this month

bobby_davro_2

what date do they decide this month?
Even though i'm all set to buy over the next couple of months, i still haven't found a property i like, but i know the price range i can afford.

Iv'e already got one of those mortgage in principles things, but am i able to take advantage of the deals currently out now with the current interest rates, pay the fees that are required and then find the property i'm after over the next couple of months.
Or do i literally have to have all the wheels in motion before hand, i.e solicotors, offer accepted, etc before i can officially get the mortgage deal?

gelato_cat

I know most people didn't predict last month's rise, but here's another POV...

http://news.bbc.co.uk/1/hi/business/6329395.stm

Suze

bobby_davro wrote:

hi
Just a qiuck one, how many people think IR will go again this month?
Reckon another raise will put me off for good looking for a house this year.

ManAtHome

bobby_davro wrote:

what date do they decide this month?

Deciding as we speak (more probably down the pub at the moment..), meeting takes 2 days, then they announce on Thursday.

roswell

Actualy im going to stick my neck out, ignore my post earlier im going to go for broke on a 0.5 % increase.

Reasoning ? One big hit early could do exactly what they need for inflation stop people spending, after all they can always revise it in June or later but a quick hit now may be easier that many increases chasing a tail wind in a head wind.

gelato_cat

If this happens I'm buying the drinks!!! :beer:

Suze

roswell wrote:

Actualy im going to stick my neck out, ignore my post earlier im going to go for broke on a 0.5 % increase.