Wednesday, Sep 12, 2007
Mortgage rates take on life of their own
BBC: Abbey blames rate rise on markets
First small mortgage rate rises detached from BoE rates. More to follow
Posted by holding out @ 12:47 PM (757 views) Add Comment
3 Comments
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1. paul said...
FTB and BTL mortgage rates are already being raised by the high street lenders.
But of course, the current state of the housing market is because of suply and demand, so these rises shouldn't affect anything ... rrright?
2. autopilotengage said...
This is the other edge of the globalisation sword; people are paying far too much attention to the BOE rates when they are planning their mortgages. Base rate trackers are on the decline because quite simply banks don't get their money to fund mortgages in the same way as they used to. Just goes to show that we don't need much direct sub-prime exposure in this country to suffer the consequences of lax lending elsewhere...
I love it when the news stories start to play out what you've been thinking for some time.
3. little professor said...
Ha ha. The markets are doing what the BoE didn't have the balls to do.