Realistbear Posted April 21, 2006 Share Posted April 21, 2006 http://www.businessworld.ie/livenews.htm?a...rollingnews.htm BoI raises all its fixed-rate loan rates Friday, April 21 13:01:44 (BizWorld) Bank of Ireland today said it had increased rates across its portfolio of home loan and residential investment loan fixed-rate products. It said the increase was due to the rise in cost of funds on the financial markets. The increase was due to__________________________? Any Bulls able to spin this one? Quote Link to comment Share on other sites More sharing options...
Prude Posted April 21, 2006 Share Posted April 21, 2006 http://www.businessworld.ie/livenews.htm?a...rollingnews.htm BoI raises all its fixed-rate loan rates Friday, April 21 13:01:44 (BizWorld) Bank of Ireland today said it had increased rates across its portfolio of home loan and residential investment loan fixed-rate products. It said the increase was due to the rise in cost of funds on the financial markets. The increase was due to__________________________? Any Bulls able to spin this one? Keep it coming RB Quote Link to comment Share on other sites More sharing options...
Spring In The Air Posted April 21, 2006 Share Posted April 21, 2006 "For example, our 1-year fixed has increased by 13 basis points (bps). This represents a rise of E17 per month on a 250,000 mortgage over 25 years. Our 3-year fixed rate increased by 24bps, representing an increase of E33 per month". Other examples include a 0.26pc rise in the bank's 20-year home loan, fixed rolling to ECB + 1.25pc for new and existing borrowers and a 0.34pc increase in its 20-year investment loan fixed rolling to ECB + 1.25pc for new and existing customers." So, the cost of a pizza on a 250000 euro mortgage. That's 300 pizzas you can't afford over the mortgage adding 10 years to your life expectancy to enjoy the property you now own outright. Will that do for a spin? Quote Link to comment Share on other sites More sharing options...
Realistbear Posted April 21, 2006 Author Share Posted April 21, 2006 "For example, our 1-year fixed has increased by 13 basis points (bps). This represents a rise of E17 per month on a 250,000 mortgage over 25 years. Our 3-year fixed rate increased by 24bps, representing an increase of E33 per month". Other examples include a 0.26pc rise in the bank's 20-year home loan, fixed rolling to ECB + 1.25pc for new and existing borrowers and a 0.34pc increase in its 20-year investment loan fixed rolling to ECB + 1.25pc for new and existing customers." So, the cost of a pizza on a 250000 euro mortgage. That's 300 pizzas you can't afford over the mortgage adding 10 years to your life expectancy to enjoy the property you now own outright. Will that do for a spin? I think you may have missed the point. IR rises without the ECB having to act. It means IR are no longer under the control of the Central Bankers but are being driven by the Creditors. Gordon may find himself in the same position very soon. Quote Link to comment Share on other sites More sharing options...
Spring In The Air Posted April 21, 2006 Share Posted April 21, 2006 I think you may have missed the point. IR rises without the ECB having to act. It means IR are no longer under the control of the Central Bankers but are being driven by the Creditors. Gordon may find himself in the same position very soon. You, I presume, are under the illusion that banks always move their rates on the same day that the ECB do? The last ECB move was up, now the BoI is moving theirs up. Not much of a surprise and, more to the point, not much effect on anyone. Quote Link to comment Share on other sites More sharing options...
MarkG Posted April 21, 2006 Share Posted April 21, 2006 It means IR are no longer under the control of the Central Bankers but are being driven by the Creditors. No matter what governments do, eventually the market will find a way to return to the norm. Quote Link to comment Share on other sites More sharing options...
Seamaster Posted April 21, 2006 Share Posted April 21, 2006 Bank of Ireland today said it had increased rates... I'm getting out of potatoes and STR-ing straight away. Quote Link to comment Share on other sites More sharing options...
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