Nationwide e-Bond reduced from 6.70 to 6.50

MattB_4

free4440273 wrote: »

I always like to praise NW (and I still do) but I can't understand this decision Only last week I was thinking of opening up an e-bond at 6.70. I probably still will do so at this new rate of 6.50 but it's not as if the BofE have cut rates (yes, I know we can all quote swap rates ad infinitum:rolleyes:).

What is it you can't understand and want explaining? Swap rates moving here isn't so much the issue as they were never up at the levels 1 year bonds have been going for. Lenders wanted to pull in some funding, got a big slug of it in, then wound back the rates to something slightly less crazy. There is obviously the matter of maintaining a competitive position too. Next Aug/Sept should be interesting with so much fixed funding maturing on high rates.

free4440273

^Thanks MB: I will probably open the e-bond at the 6.50 rate, and remain loyal to NW:). I already have two LFRBonds from just last month at the 6.70 rate:j