No Base Rate rise potentially till end of 2013

PaulF81

:beer::beer:

http://www.telegraph.co.uk/finance/economics/interestrates/9263333/Interest-rates-expected-to-remain-on-hold-through-2013.html

No surprise really, I expect the first rate rise to come Q2-Q3 2014, in line with the SLS being repaid and the economy finally picking up. Its going to be rough to then though - prichard reporting money supply contraction in China :eek:

At least the cost of LPG should be falling off lack of demand...


That HSBC 1.99% tracker is looking a pretty sweet deal from here; mortgage should be down to 170K by then if all goes to plan. :T

Surprised no-one reported this yet on here!

shortchanged_2

I suppose it's because it means this countries economy is in the sh*t and there doesn't look like much prospects for improvement over the next couple of years.

Now whether you think that is something to celebrate or not I suppose depends on whether you are financially overstretched and/or in BTL.

PaulF81

Not overstretched, but I take your point. A few on here do like to gloat though that mortgage rates are going up, I just would like to counter that by saying the majority of us on trackers are not going to be sufffering any time soon as a result of rate rises.

Graham_Devon

PaulF81 wrote: »

Not overstretched, but I take your point. A few on here do like to gloat though that mortgage rates are going up, I just would like to counter that by saying the majority of us on trackers are not going to be sufffering any time soon as a result of rate rises.

Tell us something new.

Honestly, this whole "I'm on a tracker" celebration thing has been going for around 3 years now. Which is fine. But it only relates to those on trackers.

chucky

I can't believe that mortgage rates are so low.

Carl31

2 more years of economic stagnation?

Let me just get my party hat out.......to celebrate the continuation of the great news its brought about lately

This is good news to mortgage holders, not to anyone else

ess0two

shortchanged wrote: »

I suppose it's because it means this countries economy is in the sh*t and there doesn't look like much prospects for improvement over the next couple of years.

Now whether you think that is something to celebrate or not I suppose depends on whether you are financially overstretched and/or in BTL.

There's people in here who dont want it to get any better.

I'm sure you,devon, thruglemir will be extremely disappointed when we do eventually turn the corner

runninglea

ess0two wrote: »

There's people in here who dont want it to get any better.

I'm sure you,devon, thruglemir will be extremely disappointed when we do eventually turn the corner

Where's renovation man when you need him?

Graham_Devon

ess0two wrote: »

There's people in here who dont want it to get any better.

Indeed, because getting better would mean an increase in interest rates, therefore mortgage rates, and a decline in housing values.

ess0two

runninglea wrote: »

Where's renovation man when you need him?

I'm here,oops sorry wrong account:p

Linton

Graham_Devon wrote: »

Indeed, because getting better would mean an increase in interest rates, therefore mortgage rates, and a decline in housing values.

No - getting better would imply more availability of mortgages. Sure at a higher rate but with a much lower deposit. The high deposits are constraining potential buyers at the moment, when they drop the buyers will come flooding in and up go house prices.