Monday, Feb 26, 2007
Higher interest rates put brakes on housing
Moneyextra.com: Higher interest rates put brakes on housing
Although mortgage rates take time to change, the increase in base rate early in the New Year appears to have had a salutary effect on homebuyers and mortgage payers.
Robin Amlôt of Moneyextra.com said, "For many, November's base rate rise has only just hit their mortgages and, now, they have the prospect of another guaranteed increase in their costs and talk of yet another base rate rise to come in the near future!
"Under the circumstances it's hardly surprising that the average value of both property and likely mortgage being searched against on Moneyextra.com's mortgage comparison tool eased down across all sectors (first time buyer, home mover, re-mortgagor) from December to January."
Posted by cash_buyer @ 02:22 PM (153 views) Add Comment
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