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Mortgage Rates Set For Fall, Bank Of England Survey Shows

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http://www.telegraph.co.uk/finance/economics/9969968/Mortgage-rates-set-for-fall-Bank-of-England-survey-shows.html

Deals are becoming markedly cheaper while lenders are also making more credit available for house purchases, according to the central bank’s quarterly survey of lenders on credit conditions.

The Government’s Funding for Lending scheme, launched last August to give lenders access to cheap finance, was cited by many as a factor pushing down on bank funding costs and helping to reduce interest rates for customers. Since then, the Chancellor has used the Budget to offer further stimulus to the housing market, under the banner Help to Buy.

The availability of loans for home purchases has meanwhile risen for the past nine months, the survey showed, with the biggest improvement experienced by borrowers taking out mortgages with loan to value (LTV) ratios above 75pc.

Fill your boots.

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if anyone should know they should...they are the people giving away recently invented money to the banks to lend to idiots thinking their 500k house is a bargain cause their short term low lending rate monthly payments are easily affordable with his nice 100k deposit gifted from his parents and his nice cushy London based public sector job.....:lol::lol::lol:

in the meantime the savers are hammered the cost of living is stealing away everyones disposable income and destroying the economy...pensions...everyone's future.

still...the new govenor of the boe, whom i never voted for, will sort out this mess for us all.

Edited by TheCountOfNowhere

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rates will fall if demand falls.

they cant go too far down, not like when rates are at 6-8%..

what they need now are BIGGER mortgages....then even small rate drops will have a sustaining effect.

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Cameron has often expressed the desire to 'get the housing market moving again' in his many national pep-talks and bully-pulpit addresses. At least we know now what he had in mind. rolleyes.gif

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rates will fall if demand falls.

they cant go too far down, not like when rates are at 6-8%..

what they need now are BIGGER mortgages....then even small rate drops will have a sustaining effect.

Yes however if followed by a rate rise. Big if I know.

I think they are missing the point, its demand rather than availability.

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They're not set for a fall, FLS has already forced 75% LTV mortgages below 0% in Real terms. Meanwhile SVR's and Trackers are rising at glacial speeds. Full details here but relevant chart below.

130303-1.jpg

Does that go to the end of Jan, Feb or March?

I'm trying to see how accurately these graphs match the BoE's in real time:

http://themortgagemeter.com/#/graphs

I suspect my averages are much cruder. But I've been surprised by this sort of thing before.

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Does that go to the end of Jan, Feb or March?

I'm trying to see how accurately these graphs match the BoE's in real time:

http://themortgagemeter.com/#/graphs

I suspect my averages are much cruder. But I've been surprised by this sort of thing before.

They're up to January. February figures are out by I haven't had a chance to run my full analysis yet. Headline is that all the Fixed Mortgages that I track are down again. Real rates are now:

- 2 Year = -0.34%

- 3 Year = 0.08%

- 5 Year = 0.37%

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What is this a scorched earth policy? This CJD brained Ponzi loving hatred of the prudent is Brown like.

+ 1

Cameron has often expressed the desire to 'get the housing market moving again' in his many national pep-talks and bully-pulpit addresses. At least we know now what he had in mind. rolleyes.gif

+ 1

If they also manage to liberalise planning (unlikely) then we will/would have something good out of it. Otherwise, we'll just keep being fvcked.

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If they also manage to liberalise planning (unlikely) then we will/would have something good out of it. Otherwise, we'll just keep being fvcked.

I honestly can't imagine a worse policy for the economy in general.. and as a homeowner (OK, about 45% homeowner), in theory this will increase my paper 'wealth'.

Or should I do my patriotic duty to the economy and remortgage with a bigger mortgage, and spend the proceeds on a BMW?

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  • 238 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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