TheCountOfNowhere Posted September 23, 2021 Share Posted September 23, 2021 There are some decent countries out there who try and manage the place for the good of its people. Norway, for example Norway raises key interest rate from 0% to 0.25%. Planning next rise in December. 3 more rises next year. March, June and September/December Aiming for 1.75% by the end of 2024 Now, what would happen to house prices in the UK by the end of 2024 if that happens ? Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted September 23, 2021 Share Posted September 23, 2021 In the UK we must save all feckless mortgage holders by burning our currency and economy to the ground. Great strategy. Quote Link to comment Share on other sites More sharing options...
PeanutButter Posted September 23, 2021 Share Posted September 23, 2021 Interesting that they signal rises so far in advance. Quote Link to comment Share on other sites More sharing options...
simon2 Posted September 23, 2021 Share Posted September 23, 2021 If they tried to manage for the good of the people why did interest rates go to 0% there in the first place? Essentially rewarding borrowers over savers. Quote Link to comment Share on other sites More sharing options...
Horseradish Posted September 23, 2021 Share Posted September 23, 2021 34 minutes ago, Social Justice League said: In the UK we must save all feckless mortgage holders by burning our currency and economy to the ground. It's a one-way bet when the game is rigged. 34 minutes ago, PeanutButter said: nteresting that they signal rises so far in advance. Or else they get another "Taper Tantrum"; or in English "amorphous financial players blackmail the government into printing more money." Quote Link to comment Share on other sites More sharing options...
GregBowman Posted September 23, 2021 Share Posted September 23, 2021 46 minutes ago, TheCountOfNowhere said: There are some decent countries out there who try and manage the place for the good of its people. Norway, for example Norway raises key interest rate from 0% to 0.25%. Planning next rise in December. 3 more rises next year. March, June and September/December Aiming for 1.75% by the end of 2024 Now, what would happen to house prices in the UK by the end of 2024 if that happens ? Not much mortgage rates have been de linked from central bank rates for years. It will of course soften the market but not sure it will cause dramatic falls. Just seen an article that says at least 50% of mortgages are now being taken out on a fixed rate of five years or more Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 23, 2021 Author Share Posted September 23, 2021 6 minutes ago, GregBowman said: Not much mortgage rates have been de linked from central bank rates for years. It will of course soften the market but not sure it will cause dramatic falls. Just seen an article that says at least 50% of mortgages are now being taken out on a fixed rate of five years or more Come back in 5 years then and see what happens. Quote Link to comment Share on other sites More sharing options...
GregBowman Posted September 23, 2021 Share Posted September 23, 2021 1 minute ago, TheCountOfNowhere said: Come back in 5 years then and see what happens. Remembering the 80's and 90's with far bigger shocks prices were the same in 96 as they were in 91 and then went up again Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted September 23, 2021 Share Posted September 23, 2021 The Noggies are being pro active whereas our shower are reactive. They’ll wait until their hand is forced by which time it will be too late. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 23, 2021 Author Share Posted September 23, 2021 10 minutes ago, Roman Roady said: The Noggies are being pro active whereas our shower are never going to raise rates because they themselves lose out Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted September 23, 2021 Share Posted September 23, 2021 Property Ponzi is all the UK has to offer in 2021. Fecking pathetic that we have come to this, but there you go. We can't even keep the fooking lights on and the pigs stunned for the chop without jolly foreigners help. Quote Link to comment Share on other sites More sharing options...
msi Posted September 23, 2021 Share Posted September 23, 2021 1 hour ago, Social Justice League said: Property Ponzi is all the UK has to offer in 2021. Fecking pathetic that we have come to this, but there you go. We can't even keep the fooking lights on and the pigs stunned for the chop without jolly foreigners help. We all know what the Tories like to do with Pigs.... Quote Link to comment Share on other sites More sharing options...
spyguy Posted September 24, 2021 Share Posted September 24, 2021 19 hours ago, GregBowman said: Not much mortgage rates have been de linked from central bank rates for years. It will of course soften the market but not sure it will cause dramatic falls. Just seen an article that says at least 50% of mortgages are now being taken out on a fixed rate of five years or more Thats actually a bad thing for mortgages. The spread of SVR over base rates is eye raising. Banks raising cash for housing isnt getting cheaper. Imagine a UK mortgage rates with base rates of ~4% plus a 4% spread. Quote Link to comment Share on other sites More sharing options...
winkie Posted September 24, 2021 Share Posted September 24, 2021 One great way of increasing house prices is to lower interest rates.....one sure way of lowering house prices is to raise interest rates...... Quote Link to comment Share on other sites More sharing options...
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