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Mortgage Rates - B B C News.

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BBC News are doing a piece on mortgage rates this morning. I missed the beginning but it will probably repeat.

They had "Independent Housing Expert" Kate Faulkner on who was saying that anyone buying a house should make sure that they could afford normal rates of six or seven percent as rates will surely rise in the future.

BBC presenter stressed that rates will probably not rise until 2016, "so don't panic".

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Can't wait for all the sad face articles and news interviews when they do rise.

Indeed. Faulkner said that many first time buyers she talks to think that 5% is a high rate, but historically it is very low.

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It remains to be seen if the govt/BOE will have the balls to raise rates when they need to rise.

And arguably rates should be higher now. Inflation is running ahead of wage rises and reducing spending power. A real non-debt recovery cannot happen until wage rises are higher than price rises.

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Well I'll be looking to take out a new 2 year fixed rate again soon.

The last one was 2.5% with a £2000 arrangement fee.

I'm expecting the next one to be 2.3% with a £0 arrangement fee.

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Well I'll be looking to take out a new 2 year fixed rate again soon.

The last one was 2.5% with a £2000 arrangement fee.

I'm expecting the next one to be 2.3% with a £0 arrangement fee.

Try to get that on a five year fix!

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If the population growth estimates are correct then I would expect the UK to be the first country to raise rates as the number of new bodies in the UK competing for goods and services is bound to push up inflation. Increasing rates would reduce peoples disposable income hence help to reduce the competition.

As for GDP/disposable income per head..

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Try to get that on a five year fix!

Of course that's not possible. Not that I'd want it.

The banks don't like to try and guess too far ahead without a risk premium in their favour. They learned their lesson.

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BBC News are doing a piece on mortgage rates this morning. I missed the beginning but it will probably repeat.

They had "Independent Housing Expert" Kate Faulkner on who was saying that anyone buying a house should make sure that they could afford normal rates of six or seven percent as rates will surely rise in the future.

BBC presenter stressed that rates will probably not rise until 2016, "so don't panic".

Wonder how they can know that?

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Duke, any chance of you doing a sort on the fees column to easily see what the best zero-fee rates are please??

Sorry, haven't much time for changes to this :( busy at work and that. It's a good idea tho.

Doing a small change involves me diving into the code again after a break, which takes a while.

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They had "Independent Housing Expert" Kate Faulkner on who was saying that anyone buying a house should make sure that they could afford normal rates of six or seven percent as rates will surely rise in the future.

We still cannot discount that we are 'Japan' - sub 1% rates and 80% fall in HPs...

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Sadly Carney will stick with it. It does not matter what is right for the country or the economy. He will not raise interest rates as he has given forward guidance that he will not raise rates and that's an end to it.

+1 Ego.

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Sadly Carney will stick with it. It does not matter what is right for the country or the economy. He will not raise interest rates as he has given forward guidance that he will not raise rates and that's an end to it.

Do you have a Tardis?

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Indeed. Faulkner said that many first time buyers she talks to think that 5% is a high rate, but historically it is very low.

Well to be fair if you've got a £250k mortgage 5% is very expensive when you start to work out what the interest repayment per year is.

A very rough estimate is your paying £12.5k a year in interest, if you are currently borrowing at say 2.5% then your looking at an increase of around £6k in interest repayments.

The housing market can only afford low rates because of the ridiculous price of houses.

Edited by interestrateripoff

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No but I believe that Carney and Osborne have sociopathic tendencies that will lead them to do what they think is right with no thought for others. In their own minds they are Gods controlling the world and the only need that matters is theirs, they are never wrong and every decision they have made is right.

That's better.

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