Thursday, Jun 14, 2007
Trouble on the Horizon for Fixed Rate Borrowers
Daily Telegraph: Credit fears after bond yields hit 7-year high
Deutsche Bank said 820,000 UK mortgages were due to be reset in the second half of this year at a rate now likely to be 1.4 percentage points higher, entailing an average 7pc cut in disposable income for borrowers.
Posted by dobber @ 03:38 PM (154 views) Add Comment
5 Comments
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1. confused76 said...
Credit was damn cheap, for too long, and we all knew it. FYI, the MPC does not have real control on 10 year gilt rates. Now, if they try to manipulate the mortgage market by f@**ng with the short-term rates, they kill the currency.
Painted into a corner, that's how they are. Welcome to the real world, Mervyn
2. fahrenheit451 said...
Confused76, unfortunately you are probably right.
They will just sh4ft the rest of us, in due course. Higher import costs, more Taxes, more debts.
3. Stoney said...
Good news for exporters!
4. confused76 said...
Hey, hey...
good news for savers, for pensioners, for first time buyers, for hard working people and the like!
bad news for prophets of cheap money growing on trees, merchants of ephemeral goods and services and other b/sh@t**rs
higher import costs... do not think we will have a big problem there. there is ample profiteering when goods cross the Channel. Otherwise why would there be parallel import of just anything incl labour
£ depreciation will benefit this country
5. Pinetree said...
Doesn't look good for Latvia. I do a lot of business there, if it all falls over at least the can all move to the UK.