Interest rate

Jayb1983

A few months ago I was looking for a loan. A good rate of 8.9. Now it's around 16. I believe this is due to the election as my credit rate has improved if anything. Has anyone experienced this and when would it likely fall. 

Hoenir

Nothing to do with the election. Might fall, might even rise further. Second guessing interest rate moves is extremel difficult. As no one knows what lies ahead. Events in France have shown how quickly the broader fiscal picture can change. 

CliveOfIndia

I agree with the previous poster, it's almost certainly nothing to do with the forthcoming election.

"Global" interest rates move on a daily basis - though the changes tend to be filtered down to retail customers less often than that.  Must admit, though, I'm surprise to see such a large difference in quotes you're getting in the space of just a few months.  Are you comparing like with like (same providers, same amount, same purpose of the loan, same credit circumstances) ?

And yes, as per the previous reply, predicting interest rate fluctuations is extremely difficult, and there are a whole host of complex factors that, in conjunction with each other, affect the rates.  It's one of the many "gambles" that the large investment banks employ to (hopefully!) make money - interest rate swaps and the like.  They can make or lose huge sums of money depending on whether they get it right or wrong.

MEM62

Nothing to do with the election.  Something on your profile or the lenders criterion has changed.