Are we expecting BOE to remain at 4.75% on 8th February 2025?

MeteredOut

RelievedSheff said:

ReadySteadyPop said:

RelievedSheff said:

ReadySteadyPop said:

Hoenir said:

BarelySentientAI said:

It's just you.

We want to see the evidence more clearly before making a decision is a legitimate stance.

Borrowers are only interested in today while the BOE focusses on the future. Very different perspectives at work. 

New borrowers will probably defer their decisions into the future, to give higher rates time to do their job.

Or they will just get on with their lives and not try to time the market.

After all that has been proven to be a mugs game.

 Yes people who thought recent times were a good time to buy have certainly been caught out by the rate rises.The problem for those undecided is the monthly mortgage payment, they can`t move ahead with buying until that drops, of course you could get on with your life living anywhere, you don`t need a mortgage to do that.

Where is this evidence that people have been "caught out by the rate rises?"

It certainly doesn't seem to be indicated in any of the statistics publications.

He (or she) is projecting. As simple as that.

sevenhills

RelievedSheff said:

Where is this evidence that people have been "caught out by the rate rises?"

It certainly doesn't seem to be indicated in any of the statistics publications.

All those people that didn't get long-term fixed mortgages?

Hoenir

sevenhills said:

RelievedSheff said:

Where is this evidence that people have been "caught out by the rate rises?"

It certainly doesn't seem to be indicated in any of the statistics publications.

All those people that didn't get long-term fixed mortgages?

Very few UK mortgages have ever been fixed "long term". That would be a period in excess of 15 years. 

sevenhills

Hoenir said:

sevenhills said:

RelievedSheff said:

Where is this evidence that people have been "caught out by the rate rises?"

It certainly doesn't seem to be indicated in any of the statistics publications.

All those people that didn't get long-term fixed mortgages?

Very few UK mortgages have ever been fixed "long term". That would be a period in excess of 15 years. 

I got a 10-year fix, so I have missed all these increases.

ReadySteadyPop

sevenhills said:

Hoenir said:

sevenhills said:

RelievedSheff said:

Where is this evidence that people have been "caught out by the rate rises?"

It certainly doesn't seem to be indicated in any of the statistics publications.

All those people that didn't get long-term fixed mortgages?

Very few UK mortgages have ever been fixed "long term". That would be a period in excess of 15 years. 

I got a 10-year fix, so I have missed all these increases.

Good move, taking advice from all the various "experts" on forums and in the media would have seen you trying to game the bond market with short fixes and getting caught out. 

ReadySteadyPop

RelievedSheff said:

ReadySteadyPop said:

RelievedSheff said:

ReadySteadyPop said:

Hoenir said:

BarelySentientAI said:

It's just you.

We want to see the evidence more clearly before making a decision is a legitimate stance.

Borrowers are only interested in today while the BOE focusses on the future. Very different perspectives at work. 

New borrowers will probably defer their decisions into the future, to give higher rates time to do their job.

Or they will just get on with their lives and not try to time the market.

After all that has been proven to be a mugs game.

 Yes people who thought recent times were a good time to buy have certainly been caught out by the rate rises.The problem for those undecided is the monthly mortgage payment, they can`t move ahead with buying until that drops, of course you could get on with your life living anywhere, you don`t need a mortgage to do that.

Where is this evidence that people have been "caught out by the rate rises?"

It certainly doesn't seem to be indicated in any of the statistics publications.

Statistics don`t capture an individual`s real circumstances, they just tell you that most mortgage debts are still being paid, many people going from sub 1% mortgage rates to nearly 5% are going to notice that and feel financially squeezed by that, trying to say that isn`t happening is I think a slightly strange position to take.The effects will be seen in the High Street not on a spreadsheet.

Hoenir

sevenhills said:

Hoenir said:

sevenhills said:

RelievedSheff said:

Where is this evidence that people have been "caught out by the rate rises?"

It certainly doesn't seem to be indicated in any of the statistics publications.

All those people that didn't get long-term fixed mortgages?

Very few UK mortgages have ever been fixed "long term". That would be a period in excess of 15 years. 

I got a 10-year fix, so I have missed all these increases.

You are I out of how million mortgage holders though. Better to view the world through the macro rather than micro lens. As it's the macro that determines the future direction of travel. 

ReadySteadyPop

Hoenir said:

sevenhills said:

Hoenir said:

sevenhills said:

RelievedSheff said:

Where is this evidence that people have been "caught out by the rate rises?"

It certainly doesn't seem to be indicated in any of the statistics publications.

All those people that didn't get long-term fixed mortgages?

Very few UK mortgages have ever been fixed "long term". That would be a period in excess of 15 years. 

I got a 10-year fix, so I have missed all these increases.

You are I out of how million mortgage holders though. Better to view the world through the macro rather than micro lens. As it's the macro that determines the future direction of travel. 

So lots of people caught out by the rate hikes then?

RelievedSheff

ReadySteadyPop said:

Hoenir said:

sevenhills said:

Hoenir said:

sevenhills said:

RelievedSheff said:

Where is this evidence that people have been "caught out by the rate rises?"

It certainly doesn't seem to be indicated in any of the statistics publications.

All those people that didn't get long-term fixed mortgages?

Very few UK mortgages have ever been fixed "long term". That would be a period in excess of 15 years. 

I got a 10-year fix, so I have missed all these increases.

You are I out of how million mortgage holders though. Better to view the world through the macro rather than micro lens. As it's the macro that determines the future direction of travel. 

So lots of people caught out by the rate hikes then?

Not really. 

People having to remortgage onto a higher rate product isn't being "caught out by rate hikes" .

It was inevitable given how low mortgage  rates were. There was only ever one way they were headed. 

Current rates are not high. They are average at best. People really need to get their heads around that. If rates do start to drop, they will not be heading back to the ultra low rates we have had.

ReadySteadyPop

RelievedSheff said:

ReadySteadyPop said:

Hoenir said:

sevenhills said:

Hoenir said:

sevenhills said:

RelievedSheff said:

Where is this evidence that people have been "caught out by the rate rises?"

It certainly doesn't seem to be indicated in any of the statistics publications.

All those people that didn't get long-term fixed mortgages?

Very few UK mortgages have ever been fixed "long term". That would be a period in excess of 15 years. 

I got a 10-year fix, so I have missed all these increases.

You are I out of how million mortgage holders though. Better to view the world through the macro rather than micro lens. As it's the macro that determines the future direction of travel. 

So lots of people caught out by the rate hikes then?

Not really. 

People having to remortgage onto a higher rate product isn't being "caught out by rate hikes" .

It was inevitable given how low mortgage  rates were. There was only ever one way they were headed. 

Current rates are not high. They are average at best. People really need to get their heads around that. If rates do start to drop, they will not be heading back to the ultra low rates we have had.

They are high in terms of how much people have been borrowing, lots of people had no idea that rates rising was "inevitable", and many people are still waiting for them to go back down!