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When will interest rates return to normal?
Comments
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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.1
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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.Noneforit999 said: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 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."4 -
Noneforit999 said:
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.
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Right now they ARE returning to "normal". Them being at near 0% for a few years - were most certainly abnormal!3
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