House Prices Falling at Fastest Rate for 10 years!
01 April 2005, 10:37 AM
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Originally Posted by Petem95
Rising oil prices have quite a significant effect on inflation via increased fuel costs, so oil prices have an indirect effect on interest rates.
Sorry, i just don't agree. On what are you basing this assumption?
01 April 2005, 11:48 AM
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alot will depend on how big the morgage is, I have a 90k morgage (which I consider to be quite high especially for my area) it would take a 1% rise in IR's to increase my payments by £50 which is easily manageable.... personally I think we would need to see a major increase in IR's to realy effect what would be the lower end of the market.... off course it does depend on their income too but £50 a month extra is nothing consider people put £100 a month savings away or have £70 a month going into a pension. people will ride it out IMO quite comfortably unless we get silly IR's a la 1989
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