Interest Rates to stay Lowwwwww !!!!
#1
Interest Rates to stay Lowwwwww !!!!
Just a quick one to cheer you guys up .
Rates set to stay at an all time low of .5% until 2011 and below 2% until 2014 .
Sound good to me .!!!!
Obviously the more wealthy amongst you ,it may not be as good .I can see Mattybouy reading this and shaking his head in anger ........
Rates set to stay at an all time low of .5% until 2011 and below 2% until 2014 .
Sound good to me .!!!!
Obviously the more wealthy amongst you ,it may not be as good .I can see Mattybouy reading this and shaking his head in anger ........
Trending Topics
#8
Scooby Regular
iTrader: (3)
Join Date: Aug 2004
Location: Muppetising life
Posts: 15,449
Likes: 0
Received 0 Likes
on
0 Posts
I think people need to remember that the actual level of interest rates is only part of the picture. Its how the interest rates compared to inflation that is important. That is what determines if you lose money when you are saving.
However, low interest rates have got to be good to help kickstart the economy. Cheaper finance for businesses and hopefully lower mortgage rates to help people keep their homes.
However, low interest rates have got to be good to help kickstart the economy. Cheaper finance for businesses and hopefully lower mortgage rates to help people keep their homes.
#9
Where have the predictions for rates in 2014 come from??? Firstly nobody can predict what the rates will be in 5 years time! Secondly, there are 5 year fixed rate saving deals out there offering circa 4.5%, this would suggest that those banks are guessing rates will increase.
#10
Scooby Regular
Join Date: Jul 2000
Location: Dull White BMW
Posts: 5,052
Likes: 0
Received 0 Likes
on
0 Posts
The only people that this benefits are those on a tracker mortgage...that they started last October...
However, we are moving and need a top up mortgage and the deals on offer, given the low BoE rate, are silly.
Steve
However, we are moving and need a top up mortgage and the deals on offer, given the low BoE rate, are silly.
Steve
#11
Scooby Regular
surely low interest rates promote the entrepreneurial spirit and the building of businesses
isn't that what the economy needs?
and will prompt a rally in equities too -- good for bankers
isn't that what the economy needs?
and will prompt a rally in equities too -- good for bankers
#14
Scooby Regular
#22
[QUOTE=Deep Singh;8992314]Where have the predictions for rates in 2014 come from???
Up until 2014 !!!!! BBC News ,yesterday ,from some Economist Guru .
With the Economy fragile to say the least ,upping interest rates at the moment would surely send us back into freefall .Common sense really .
On a Tracker myself to be honest and got my statement a few weeks back .More than happy with the large chunk paid off in the last 6 months or so .(about 3 X the normal chunk of the Capital paid back .)
Will be quite happy to stay in recession for a while longer to be honest .
Up until 2014 !!!!! BBC News ,yesterday ,from some Economist Guru .
With the Economy fragile to say the least ,upping interest rates at the moment would surely send us back into freefall .Common sense really .
On a Tracker myself to be honest and got my statement a few weeks back .More than happy with the large chunk paid off in the last 6 months or so .(about 3 X the normal chunk of the Capital paid back .)
Will be quite happy to stay in recession for a while longer to be honest .
#23
Does sound harsh but Ive got to agree. Im saving 3k per year in reduced mortgage. To get that back in savings the interest rate would have to be 10%.
#24
Its a bit hard on those who saved up during their working lives and were depending on interest on their savings to live on, especially with their heavily depleted pensions, thanks to Flash of course!
Les
Les
#25
Scooby Regular
iTrader: (2)
Join Date: May 2000
Location: Class record holder at Pembrey Llandow Goodwood MIRA Hethel Blyton Curborough Lydden and Snetterton
Posts: 8,626
Likes: 0
Received 0 Likes
on
0 Posts
There were some great deals out there before this whole turmoil started, all related to base rate and not to lenders SVR, for example 1% base discount tracker for 2 years, then base + <1% for rest of term.
I don't think I'll be changing my product anytime soon.
I don't think I'll be changing my product anytime soon.
#27
Scooby Regular
Join Date: Aug 2000
Location: God's promised land
Posts: 80,907
Likes: 0
Received 0 Likes
on
0 Posts
#28
Scooby Regular
Join Date: Aug 2000
Location: God's promised land
Posts: 80,907
Likes: 0
Received 0 Likes
on
0 Posts
#29
Scooby Regular
Join Date: Aug 2003
Location: Epsom
Posts: 5,832
Likes: 0
Received 0 Likes
on
0 Posts
#30
Scooby Regular
iTrader: (2)
Join Date: May 2000
Location: Class record holder at Pembrey Llandow Goodwood MIRA Hethel Blyton Curborough Lydden and Snetterton
Posts: 8,626
Likes: 0
Received 0 Likes
on
0 Posts
Hey I was only going by the news reports earlier this year, quite a few banks have been making profits. And high lending rates were reportedly (amoungst other things) due to LIBOR being high relative to base at the time. Now if LIBOR has reduced and the lending rates haven't by as much then fine, good for them, my underwear is nicely aligned.
I do read the Times though!
I do read the Times though!