Nationwide cuts mortgage rates

mpsavuk

Looks like we are nearing the end of the credit crunch folks.

:beer:



http://uk.reuters.com/article/personalFinanceNews/idUKNOA33878320080513?rpc=401&feedType=RSS&feedName=personalFinanceNews&rpc=401

Red_Cat

Hmm not sure that reduction in mortgage rates by a big lender is a strong signal that the credit crunch is ending. It's a postive sign, definitely, but the credit crunch has a global significance that means we cannot control it from the UK alone.

Good news nonetheless for those elooking for a fixed rate mortgage right now.

izzybusy23

mpsavuk wrote: »

Looks like we are nearing the end of the credit crunch folks.

:beer:



http://uk.reuters.com/article/personalFinanceNews/idUKNOA33878320080513?rpc=401&feedType=RSS&feedName=personalFinanceNews&rpc=401

I was in Natwest yesterday and they too had reduced their mortgage rates. I don't get it, they hold off putting them down when the BOE lowered interest rates last month and when the BOE put rates on hold this month the mortgage brokers put their mortgage rates down... ahh well.

Markyt

izzybusy23 wrote: »

I was in Natwest yesterday and they too had reduced their mortgage rates. I don't get it, they hold off putting them down when the BOE lowered interest rates last month and when the BOE put rates on hold this month the mortgage brokers put their mortgage rates down... ahh well.

They don't raise their money from the BoE - they get it from the markets, and the exchange rate of the LIBOR has been steadily falling over the last couple of weeks.

foreversummer

And today with inflation rising to 3%, and reports of a very serious slump in the housing market . . . . .

It is certainly very difficult to keep abreast of the situation, let alone try to understand it!

Forversummer