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How long will interest rates remain low ?
lentrix92
Posts: 113 Forumite
AS above how much longer do you think rate will remain low before they start to rise??
Hope its not until after May April next year as we come out of our 5 yr fix(4%) and are looking for another long term deal at 'cheap' rates .......
Hope its not until after May April next year as we come out of our 5 yr fix(4%) and are looking for another long term deal at 'cheap' rates .......
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I think you should be ok for a competitive rate next yr .....
I personally don't expect rates to rise significantly from todays deals, at least for the next few yrs ....... but that is only my opinion based on the current markets and other factors.
Hope this helps
Holly0 -
Market expectations have gone from 3 to 2 years, so I think you will most likely be fine.0
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I hope so ....!0
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The Bank of England doesn't anticipate the base rate rising until 2015 at the earliest. Whispers abound that lenders might bump up their own sooner than that - this is largely caused by the announcement by the US Federal Reserve that they're going to start scaling back the QE programme across the pond. Outgoing BoE governor Mervyn King advised strongly against doing something similar quite so soon over here.
Additionally, the FLS has been extended until January 2015.
So assuming that Mark Carney (the new BoE guv'nor) won't raise them [rates] prematurely, the only thing that would force them up is robust economic growth. Until that's a real probability, I can't see interest rates shooting up. Personal projection is at least another 18 months.
I work for a mortgage adviser
I have amended the standard mortgage adviser signature because, even though I do not provide financial advice directly, I support and follow MSE's Mortgage Adviser Code of Conduct. My posts are for information and discussion purposes only and shouldn't be seen as financial advice.
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i have been looking at a 5 year deal with the coop (current acc exclusive) and it was 3.69% for 5 years LTV 85%. looks like they have pulled it now and the 2 year fix 60% ltv is now at that rate :eek::( back to the drawing board for me
:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j0 -
I think the BoE rate will go up towards the end of 2014, but general interest rates will rise throughout 2013.0
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See also Seeing the future!0
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Hmm. Not such good news for oldies having to live off savings.
Good luck to you.~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
"Any more posts you want to make on something you obviously know very little about?"
Is an actual reaction to my posts, so please don't rely on anything I say.
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Base rates will stay low for a while, funding for lending will continue, more QE uncertain. However the cost of borrowing will creep up slowly as the international cost of money goes up.
I would expect small creeping rises in mortgage rates over next year:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
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