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Debate House Prices


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Q3 gdp +0.8%

1356

Comments

  • ILW
    ILW Posts: 18,333 Forumite
    chucky wrote: »
    Why would they want to do that?

    To improve my savings account.
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    michaels wrote: »
    On the relationship between base rates and consumer borrowing rates, McHamish and I had a disagreement, he was arguing both that sensitivity to rates would make any increases small and slow and also that as rates increased margins would fall. I suggest that one or other of these can be true but not both smultaneously - if falling margins result in changes in base rates fail to take spending power out of the economy then base rates will rise more.!

    Legacy lending will move with base rates as per terms, there's enough of this out there that initial rises will be tentative and cautious.

    New lending spreads will narrow, as competition returns to the market with increased volume of lending.

    Don't think anyone has suggested that banks will spontaneously reduce spreads on existing loan books, you'll have to remortgage to get the new lower deals, so the transmission mechanism remains intact over the short term.... but consumers will be able to access lower cost funding when existing high spread deals become unpalatable.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    edited 25 October 2013 at 12:28PM
    ILW wrote: »
    Time to bump up IRs then.

    Why, I did't notice the unemployment rate dipping to/below 7%?
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    ILW wrote: »
    To improve my savings account.
    Who told you that interest rates were always going to be high.

    There should have been a warning on your savings account.
  • ILW
    ILW Posts: 18,333 Forumite
    chucky wrote: »
    Who told you that interest rates were always going to be high.

    There should have been a warning on your savings account.
    Nobody told me rates were guaranteed, just would like them to be higher.
  • michaels
    michaels Posts: 29,250 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    chucky wrote: »
    Who told you that interest rates were always going to be high.

    There should have been a warning on your savings account.


    You know I think you are correct, I have been mis sold almost every savings account I have ever had and demand compensation!
    I think....
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    ILW wrote: »
    Nobody told me rates were guaranteed, just would like them to be higher.
    Then it's nobody fault but your own that you're getting a low return on your savings.

    Thanks for confirming.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    michaels wrote: »
    You know I think you are correct, I have been mis sold almost every savings account I have ever had and demand compensation!
    I'm just going to draft a letter to the ombudsmen and the FSA for ILW to sign so only savers get high interest rates but maintain low mortgage rates.
  • ILW
    ILW Posts: 18,333 Forumite
    chucky wrote: »
    I'm just going to draft a letter to the ombudsmen and the FSA for ILW to sign so only savers get high interest rates but maintain low mortgage rates.
    I don't care about mortgage rates, just want to get some more from my savings account.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    ILW wrote: »
    I don't care about mortgage rates, just want to get some more from my savings account.
    I didn't think you would and knew that the the obvious irony about high savings rates and low mortgage rates would go above you head.
This discussion has been closed.
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