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Debate House Prices


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Halifax... Down -2.4% for April

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Comments

  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    chucky wrote: »
    Yes you're right. Mortgage rates are at record lows, only in Lala Land of course.

    Mortgage rates might not be at record lows. Not sure as the data isn't freely available.

    But they are at the lowest since 1995, by some way.

    house_price_server.php?width=768&height=576&year_min=1995&year_max=2011&type=mrates&flag_q=0&flag_nw=1&flag_hf=1&flag_rm=1&flag_ft=1&flag_lr=1&flag_o=1&flag_ma=0&lag_yoy=0&lag_qoq=0&lag_odpm=1&leg_pos=0&flag_logy=0
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    Graham_Devon wrote: »
    Mortgage rates might not be at record lows. Not sure as the data isn't freely available.

    But they are at the lowest since 1995, by some way.
    So they're not at record lows. Thanks for clearing that up for MCC100, he didn't seem to know.

    btw, the graph goes to mid 2010. We're nearly half way through 2012.
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    edited 4 May 2012 at 10:09PM
    chucky wrote: »
    So they're not at record lows. Thanks for clearing that up for MCC100, he didn't seem to know.

    btw, the graph goes to mid 2010. We're nearly half way through 2012.

    We don't know whether they are at record lows, because, as I say again, the date is not available. If you are asking people to prove the unproveable, then yes, you win the internet.

    Based on probabilities, with the base rate being at 300 year lows, it's probable mortgage rates are also at record lows.

    I don't know what the fuss is in all honesty, it's clear to all of us, that mortgage rates are the lowest they have ever been in any of our lifetimes, so why concern ones self over whether or not they might have been lower before we were even born just to win a pedance point? Worse, a pedance point that you can't even prove yourself?
  • mcc100
    mcc100 Posts: 624 Forumite
    Part of the Furniture 500 Posts Name Dropper
    chucky wrote: »
    So they're not at record lows. Thanks for clearing that up for MCC100, he didn't seem to know.

    btw, the graph goes to mid 2010. We're nearly half way through 2012.

    Where have I referred to mortgage rates ?
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Oh god, I'm arguing against a pedance point, which has only reared it's head, due to the twisting of what a poster said about interest rates.

    Sorry mcc100, even I fell for that twisting of what you said.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    mcc100 wrote: »
    Where have I referred to mortgage rates ?
    Yes sorry my fault people don't use mortgage rates to determine mortgage repayments they use record low interest rates instead that "sustain high house prices" to pay their mortgage.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    Graham_Devon wrote: »
    Oh god, I'm arguing against a pedance point, which has only reared it's head, due to the twisting of what a poster said about interest rates.

    Sorry mcc100, even I fell for that twisting of what you said.
    Again you don't understand for a change.

    The record low rates that we have aren't "sustaining the high house prices"', the record low rates are their to assist the economy. Don't blame me for you not understanding this.
  • mcc100
    mcc100 Posts: 624 Forumite
    Part of the Furniture 500 Posts Name Dropper
    chucky wrote: »
    Again you don't understand for a change.

    The record low rates that we have aren't "sustaining the high house prices"', the record low rates are their to assist the economy. Don't blame me for you not understanding this.

    Yes, they are there to assist the economy (supposedly) but the knock on effect is that they are keeping house prices high.

    How often do we hear house builders telling first time buyers that it is cheaper to buy than rent?
  • RenovationMan
    RenovationMan Posts: 4,227 Forumite
    mcc100 wrote: »
    It's hardly rocket science ......... record low interest rates for over three years are a major factor in sustaining high house prices.

    And yet it was such rocket science that you crashers didn't expect it. You all thought the government would simply stand back and watch the carnage.
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    edited 4 May 2012 at 10:32PM
    mcc100 wrote: »
    Yes, they are there to assist the economy (supposedly) but the knock on effect is that they are keeping house prices high.

    This is completely undeniable. Even Mervyn King has stated this has been an effect of base rates dropping. Of course not THE reason for rates dropping, but certainly an effect.

    Labour AND the Coalition have used low base rates to suggest "they" kept people in their homes. Though both suggest the bank is independant when it suits.

    I don't really get the argument otherwise in all honesty. Not only do I not get the argument otherwise, I don't actually get what the argument appears to actually be. Apparently I now don't understand something or other, now I have proved what was being asked for with the graph. Asked to show mortgage rates are low. Show it. Get told I don't understand. :undecided
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