Jump to content
House Price Crash Forum
Realistbear

I R Are Currently Soaring--5 Year Deals Hit 5.7%. Frenzied Hiking Begins

Recommended Posts

http://uk.biz.yahoo.com/090807/214/ioyq4.html

Mortgage rates soar to year high

Charges for five-year fixed-rate deals jumped to 5.7% last month, according to figures from the Bank of England.

Given you cannot beat the market--the inevitable cost of the decade of imprudence gives way to real cost. If we are in a deflationary cycle the current IR rate is massive.

Share this post


Link to post
Share on other sites

just need to get those savings accounts sorted now -

creeping up...

Lloyds 3%

Nationwide 2.8%

Alliance & Leicester 3.15%

none of the above are bonds, just instant access savings. not much, but it's a start

Share this post


Link to post
Share on other sites
just need to get those savings accounts sorted now -

creeping up...

Lloyds 3%

Nationwide 2.8%

Alliance & Leicester 3.15%

none of the above are bonds, just instant access savings. not much, but it's a start

Noticed nationwides bond rates have increased over the last month so has halifaxs Isa rate.

Share this post


Link to post
Share on other sites

Given the current state of the economy and the banking industry there is no other alternative than rising IR. We are entering a new era: pay back time for the Brown decade of imprudence.

Something always*has to give and something is giving: no more cheap credit. Its a natural reaction to the decade of easy credit. The laws of economics in all of their splendid and simply glory. What goes up.......................

______________________________

* No exceptions

Share this post


Link to post
Share on other sites
Probably the bank not happy about the amount of people taking Fixed Rates. ie. A most of them.

I am sure the bank are thrilled at the amount, in fact it allows them to increase their margins over the rise in swap rates

Share this post


Link to post
Share on other sites
I am sure the bank are thrilled at the amount, in fact it allows them to increase their margins over the rise in swap rates

When the pound crashes again thanks to Quantitative Bullshitting and increasing debt these fixed rates will become increasingly loss-making for those that have funded them.

Share this post


Link to post
Share on other sites
Given the current state of the economy and the banking industry there is no other alternative than rising IR. We are entering a new era: pay back time for the Brown decade of imprudence.

Something always has to give and something is giving: no more cheap credit. Its a natural reaction to the decade of easy credit. The laws of economics in all of their splendid and simply glory. What goes up.......................

yep.

it's called "the pound".

bye bye.

Share this post


Link to post
Share on other sites

Read this in today's Guardian

Banks and building societies lift savings rates to fund mortgage deals

Interest rates on certain fixed-term savings accounts have increased by more than 50% since March

...snip...

West Bromwich building society has launched a range of E Bonds, including a five-year bond paying 5.45% on deposits of £5,000, while Barnsley building society has online bonds paying 5.4% for five years and 5% for three years. Instant access accounts are also getting more competitive, with Egg raising its interest rate to a market-leading 3.25% last Friday.

...snip

The whole article is a good read. I have a fixed rate savings bond maturing next month and am smiling that I'll be getting a not bad rate when I reinvest it.

Share this post


Link to post
Share on other sites
When the pound crashes again thanks to Quantitative Bullshitting and increasing debt these fixed rates will become increasingly loss-making for those that have funded them.

Hee hee hee!

Which is probably why the rate is rising.

Share this post


Link to post
Share on other sites
Still taking the piss. :rolleyes:

Indeed, but at least it's heading the right way.

Share this post


Link to post
Share on other sites
Coventry instant access 3.3% .......

Looks like savings rates are going up faster than a web forum can keep up with.

I wonder what's happening to lending rates....?

Oooh The Telegraph offers some news.

Fixed rate mortgage cost hits highest level this year

The cost of fixed-rate mortgages rose to their highest level this year during July as lenders passed on increases in funding costs to new borrowers, figures from the Bank of England showed.

The average rate charged on a five-year fixed rate loan for someone with a 25 per cent deposit jumped to 5.7 per cent last month

Published: 2:23PM BST 11 Aug 2009

[go follow the link for the whole story]

Share this post


Link to post
Share on other sites

Premium Bonds actually look a little tempting again. Not so much for return, but simply to take my money away from a bank that's taking me to the cleaners.

Share this post


Link to post
Share on other sites
just need to get those savings accounts sorted now -

creeping up...

Lloyds 3%

Nationwide 2.8%

Alliance & Leicester 3.15%

none of the above are bonds, just instant access savings. not much, but it's a start

Heard an ad for a 6% Abbey savings account on the radio last week. Didn't see that coming.

Share this post


Link to post
Share on other sites
Premium Bonds actually look a little tempting again. Not so much for return, but simply to take my money away from a bank that's taking me to the cleaners.

******.

If you look at the rates offered by NSandI through various means (Direct cash ISA, premium bonds, Granny bonds etc) you'll find that they are nowhere near as attractive at the moment as those offered by high street banks and building societies. The latter are desperate to lend money at a margin; consequently the rates offered to both savers and borrowers are going up at the moment.

Remember the Credit Crunch?

It ain't over.

Money's still too tight to mention. Despite the best intentions of the BoE.

Share this post


Link to post
Share on other sites
Premium Bonds actually look a little tempting again. Not so much for return, but simply to take my money away from a bank that's taking me to the cleaners.

In November Im pulling most of my savings with NW and paying off the mortgage. NW have royally shafted their savers.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   285 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.