Saturday, Jan 13, 2007
Is the cheap money supply drying up?
Times: Rates panic hits borrowers and lenders
Swap rates, the money markets that determine fixed-rate lending, jumped in response to the possibility of yet another quarter-point increase as soon as March, leaving lenders panicking that there would not be enough funding to support existing cheap deals. Andrew Hagger, of Moneyfacts, the price comparison service, said: “Lenders are panicking. We have never seen so many fixed rates being pulled so quickly. Even when a rise is expected, it usually takes a week for lenders to respond.”
Posted by uncle chris @ 11:20 AM (149 views) Add Comment
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