The fed just raised interest rates by .25%

Crashy_Time

Actually I agree, someone with a mortgage is not necessarily a debt junkie, just that many debt junkies have mortgages, but many rent as well no doubt.

padington

Maybe we should call it the Brexit bonus ...

https://www.google.co.uk/amp/s/amp.theguardian.com/business/2016/dec/15/uk-interest-rates-2017-article-50-brexit?client=safari

0.1% Anyone ?

Nom nom nom

Why anyone thinks we can come off sub low interest life support after a Brexit beating I have no idea

Crashy_Time

http://uk.reuters.com/article/uk-hongkong-rates-idUKKBN143351

westernpromise

padington wrote: »

Maybe we should call it the Brexit bonus ...

https://www.google.co.uk/amp/s/amp.theguardian.com/business/2016/dec/15/uk-interest-rates-2017-article-50-brexit?client=safari

0.1% Anyone ?

Nom nom nom

Why anyone thinks we can come off sub low interest life support after a Brexit beating I have no idea

the Bank of England’s monetary policy committee say that the next move in UK interest rates could be either up or down

These are the insights for which they're paid the big bucks.

Jack_Johnson_the_acorn

Crashy_Time wrote: »

Actually I agree, someone with a mortgage is not necessarily a debt junkie, just that many debt junkies have mortgages, but many rent as well no doubt.

Is this Crashy posting something non-hysteric.... weird to agree with Crashy, even if he is just stating the obvious. Maybe Crashy is beginning to see the light. :rotfl:

Am I a debt junkie Crashy...

H/H income of £50k-£55k.
Mortgage originally taken out of £114k
10% deposit used.

Credit card with £2000 0% interest.
£20k in savings.

Income £3200pcm
Every possible outgoing £2100(including, h/h costs, finance, transport, childcare, shopping & leisure)

westernpromise

"Debt junkie" is a nebulous and accusatory term, normally used by crashtrolls of people with mortgages to imply that they are somehow reckless.

My observation of most mortgaged homeowners is that they are actually risk-averse and many bought expressly to fix housing costs. To do so entails paying the current market price because that's the only price there is. To buy grossly more or less housing than you actually need could each be described as reckless. To me, buying less than you need is the more reckless of the two. If you buy more than you need you are at least accumulating something sellable at a known price, whereas if you buy less, you are postponing the cost of buying what you need without any way of knowing what it will cost when you do.

I really struggle with why anybody would short property for long.

Thrugelmir

padington wrote: »

Why anyone thinks we can come off sub low interest life support after a Brexit beating I have no idea

Other than mortgages ( i.e. secured lending) is it cheap to borrow?

lisyloo

Other than mortgages ( i.e. secured lending) is it cheap to borrow?

My M&S credit card is 0% - how cheap do you want it?
I funded a "payment" via paypal so paid no charges either.

Thrugelmir

lisyloo wrote: »

My M&S credit card is 0% - how cheap do you want it?

Can everyone obtain 0% credit cards?

I guess you spend on the card. So the retailer has marked the price of the goods up to cover the fee paid to the finance house. A business is run to make a profit not be charitable.

chucknorris

Crashy_Time wrote: »

Y..a..w..n.....:rotfl: lets see how comfortable the average UK punter is with rate hike races to the top....:rotfl: Greenspan was talking yesterday about the late seventies when US rates went double digit to "balance the economy", plenty scope here for the CB losing control. The average punter will be squeaking if rates hit 1% let alone 3%.

Crashy you make 3% sound like a nightmare, in fact, it is a dream rate! The 0.5% base rate was way beyond my wildest dreams, and it looks like I'm going to get at least 8 years out of it, then probably quite a few years with a sub 3% rate! When it rises above 3% I will probably have sold up by then anyway, even if I haven't, I could simply pay the outstanding mortgages off anyway. The interest stakes race was ran and won many years ago (the bears lost, i.e. YOU), celebrations were about 5 years ago, with an annual anniversary party ever since.