Friday, Jun 08, 2007
Smartnewhomes calls for interest rate 'stabilisation'
Firstrung: "If first time buyers stay away the market could go into freefall" Smartnewhomes
David Bexon, Managing Director of SmartNewHomes.com, comments on this month's decision from the Bank of England's Monetary Policy Committee (MPC) to hold interest rates at 5.5%: "The decision to hold interest rates at 5.5% will only offer a temporary reprieve for many homeowners struggling to cope with escalating mortgage repayments and increasing levels of debt. However, with further rises predicted before the end of the summer this month's reprieve may be short lived.
Posted by converted lurker @ 11:33 AM (126 views) Add Comment
9 Comments
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1. royston said...
Said the turkeys, "If you don't cancel Christmas, it will be carnage....You will have our blood on your hands, you know!"
2. royston said...
David,
Well, you and your industry shouldn't have ramped up the market so much, should you?
3. paul said...
Funny, estate agents didn't give a toss about first time buyers last month ...
4. d'oh said...
And the market going into freefall would be bad how? Couldn't think of anything I'd personally rather see.
5. Fedupwithhouseprices said...
What's happened to the propertysnake website? I can't get anything from it now. Is it me or has someone put a stop to it?
6. taffee said...
you cannot have a society where young people cannot buy a house or raise a family.....fact is too may people own too many properties and its gonna end in tears ala japan.
7. george monsoon said...
http://www.propertysnake.co.uk/
Try again, its working fine.
8. Gilbert said...
What we're seeing now IS interest rate stabilization - a return to the historic mean. If you cannot afford your mortgage repayments at 7% (5% plus 2% fluctuation) that you have borrowed too much.
9. Ayresygirl said...
"If first time buyers stay away"....I didn't think we had any other choice but to stay away.