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Interest Rates could hit 6% very soon!
Comments
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You have come to the right place to be educated my canine friend.Whenthemusicstopsmakesureyou'renotleftstanding0
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if they do rise to 6 per cent and beyond (which they will not i think) i, for one, will be happy: my 2004 fixed rate bond expires in october and 6 per cent would be good for me. am i being selfish? or prudent?
BLOODBATH IN THE EVENING THEN? :shocked: OR PERHAPS THE AFTERNOON? OR THE MORNING? OH, FORGET THIS MALARKEY!
THE KILLERS :cool:
THE PUNISHER :dance: MATURE CHEDDAR ADDICT:cool:0 -
Like Warren Buffet. The third/fourth whatever richest man in the world.
You're right though pinky.
I've got nothing against home ownership.
It's greed and stupidity I despise.
I forgot to mention, a poorly educated population is another prerequisite for a global workforce. Have you noticed educational standrds dropping by any chance?
OOOPS. Freudian slip maybe?
well spotted dog.Whenthemusicstopsmakesureyou'renotleftstanding0 -
today's market is today's market, and markets in the past were HISTORY. .
Yes, last weeks market is history. Next weeks market is the future.
Like when you make reference to IRs at 15% you mean? You replied to this post.Things are completely different in today's world, so you can analyse past statistics all you like, and make whatever predictions you like based on info from the PAST.Just enjoy your property, go have a beer and chill!
Too right! If you have bought recently and not overstretched... enjoy.No one knows what the market is going to do. No one can know, and no one will know, so you can make predictions until you're blue in the face, but it's nothing but speculation and guessing games in reality, so a waste of time.
and yet here you are posting an opinion. Would you also apply that to the MPC? Maybe they should throw a dice to decide what the next IR should be.
It is not a waste of time for me. I am planning my next house move and am gathering as much information as I can so that I can make an informed decision. I would suggest to anyone thinking of buying now to do the same.
It is after all one of the biggest financial decisions you are going to make in life.0 -
I do there will problems in the next couple of years but not as bad as the bust of the late eighties brought about in part to MIRAS0
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today's market is today's market, and markets in the past were HISTORY.
Things are completely different in today's world, so you can analyse past statistics all you like, and make whatever predictions you like based on info from the PAST, but in today's world you're never going to know what's gonna happen, and it can't be predicted, so why waste all this time and energy trying to predict it?!?!
Just enjoy your property, go have a beer and chill!
No one knows what the market is going to do. No one can know, and no one will know, so you can make predictions until you're blue in the face, but it's nothing but speculation and guessing games in reality, so a waste of time.
hahahahah......how does that quote go.....oh yes.....
"The one thing that we learn from history, is that we don't learn from history!"
The interest rate futures market seems to be able to predict interest rates pretty well, and interest rates have a strong correlation with house prices, the futures market is writing in 6% as we speak.
Affordability was mentioned, the 1% rise in rates within 12 months has had the following affects as illustrated below. These are the amounts someone could have afforded, and using the same criteria, can afford now:
............................12 months ago.....Now............@ 6%
Afford to borrow...........£100,000.....£90,400........£86,200
Afford to borrow...........£200,000....£181,000.......£172,400
**Based on a 25 year mortgage repayments.
So your first time buyer looking to buy that £110,000 flat may soon have to find a £23,800 deposit instead of £10,000.
Armed with that, do you really believe rates have to hit 15%???I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.
That also means I cannot share in any profits from any decisions made!;)0 -
All MIRAS did was put more money into the equation.
More money = rising prices
rising prices = BTL
BTL = rising debt levels
rising debt levels = falling affordability
falling affordability = dodgy financial practice
dodgy financial practice = more money
Welcome to the jungleWhenthemusicstopsmakesureyou'renotleftstanding0 -
Hmmm, anyone with a crystal ball out there? .... But seriously, at what point in the future are prices going to be driven down? Next month? Next year? (worried FTB)
They'll be driven down with every rate rise for the reasons above.I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.
That also means I cannot share in any profits from any decisions made!;)0 -
was BTL even invented in 1990? I can confidently say BTL mortgages weren't that mainstream....
I thought MIRAS wouild have removed money from the equation? ie people dont get it back, so gotta find it from elsewhere.
Nobody has mentioned the numerous other things that happened at the time as well. High unemployment, markets weren't too clever, etc. It wasnt just an isolated property problem....0
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