Sunday, Jul 23, 2006
Mortgages: Fixed or Variable
Independent: It's follow that base rate as fixed home loans rise in price
A recent rise in fixed mortgage rates is making trackers - which follow the Bank of England base rate - more popular.
The cost of fixes has begun to creep up as economic warning signs, such as higher inflation, have persuaded the money markets - where lenders borrow from each other - that a base rate rise is on its way after 11 months at 4.5 per cent.
Posted by jason @ 01:39 PM (169 views) Add Comment
5 Comments
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1. inbreda said...
""Consumers appear educated and willing to take this risk"
Educated? This man needs to prepare to be educated himself.
"One of the main reasons for taking out a tracker is that any reduction in the base rate will be passed on to you immediately and in full"
Because that's likely!!!!!
2. bidin'matime said...
Meaningless spin.
3. Tangara said...
Meaningless spin
So far the spin has worked pretty well !!! As they all know, the property value is just an opinion, that's why it's so important for all the housing business to keep it spinning as long as possible.
It's all about opinion making - normal people listen too much to their banker...
Tangara
4. wannabemigre said...
Perhaps if you read the "sleepwalking into crisis" link at the bottom of the article the answer as to the popularity of the variable rate mortgage becomes clearer:-)
5. inbreda said...
Wannabemigre - good spot. It proves the lazy journalist theory. The journalists on both pieces have no VI, but clearly no interest in proper journalism either!!