This is why interest rates are about to start going up

pault123

Time to jump ship off my tracker and get on a 5 year fix @ 2.4% while I can?

This looks to be the first clear sign they will be going up.

http://www.telegraph.co.uk/finance/economics/11745465/This-is-why-interest-rates-are-about-to-start-going-up.html

lee111s

He has said probably, nothing definite yet. We've been here before...I guess only time will tell!

Jon_B_2

This isn't like usual. The national living wage increase will mean increases above average for people above NMW to retaining equality across work forces. Next year inflation is going to climb quite significantly as increased private sector costs are passed onto consumers.

Rates will have to rise...

pault123

IMHO this is different this time round, too many boxes ticked which pave the way for the rise, also Mark Carney himself has said they are months away from rising.

Daily Fail link

http://www.dailymail.co.uk/news/article-3164475/The-end-cheap-mortgages-warns-Bank-England-chief-Mark-Carney-says-rates-rise-months.html

10yearfix

The key word thoughout Carney's statment was "Probably". It's very convienient that we have had the Tories in for a few months and now we're getting our clearest sign yet of rates going up. Rates will go up as fast as they need to, to keep inflation within 2% target. The minimum wage increase, general pay rises of over 3%, full employment equalling higher wage growth plus an economy continuing with sustained growth will only mean rates are going to go up. They could very well go up as fast, or faster, than they came down. We could be back at 5% + in a couple of years. Fix and pay off capital.

Don't rely on rates going up slowly.....they may need to go up faster if the economy continues to grow and grows faster.

mrginge

Scaremongering nonsense ^^^^^

PasturesNew

In 2006, one of the reasons I sold my house (there were others) was that they were saying rates would be increasing ... I sold up, banked the money (7% at Sains!) and thought I had done well. House gone, good base income coming in.

Then look what happened!

They will have to go up sometime. These low rates were "the lowest since records began, in the 1600s" when they started..... but when and why is something you have to guess for yourself.