We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

When will interest rates return to normal?

124»

Comments

  • 25_Years_On
    25_Years_On Posts: 3,030 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper
    I believe that normal has been between 3 and 6% or so going back centuries. The 70s into the 80s were a blip and the low rates in recent time are also a blip. However perhaps blips are the new normal.

  • superstylin
    superstylin Posts: 626 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    edited 20 October 2022 at 8:14AM
    As a 30 something, I have only ever known low mortgage rates. 

    I think my generation is in for a big shock when they realise current rates are likely to be a minimum. 
    I think this helps to explain why a lot of people consider the low rates normal.I bought my first property in 2009, I've only ever known rates to be ultra low.
    I didn't recognise or appreciate they were not normal until recently when remortgaging, and trying to educate myself so I could make a more informed decision on what product I chose.
    Initially I felt aggrieved that I was going to have to pay so much more in interest with my new mortgage but now I accept it as normal and appreciate the low rates I had previously. (Though I do regret not overpaying back then. Hindsight is a wonderful thing). 
    "a workman, even of the lowest and poorest order, if he is frugal and industrious, may enjoy a greater share of the necessaries and conveniences of life than it is possible for any savage to acquire."
  • Thumbs_Up
    Thumbs_Up Posts: 965 Forumite
    500 Posts First Anniversary Name Dropper Photogenic

    I think my generation is in for a big shock when they realise current rates are likely to be a minimum. 

    For your generation and those that come after the shocks will keep on coming.




  • Right now they ARE returning to "normal". Them being at near 0% for a few years - were most certainly abnormal!
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.3K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.3K Spending & Discounts
  • 245.3K Work, Benefits & Business
  • 601.1K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.