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gruffydd

Interest Rate Rise 'inevitable'

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http://icwales.icnetwork.co.uk/0300busines...-name_page.html

and http://money.independent.co.uk/personal_fi...ticle362446.ece - extract:

The fixed-rate savings bond market - where you leave your money with a provider for between one and five years - has benefited from a flurry of industry activity over the past week, and interest rates have now edged over the 5 per cent mark.

While rates had been hovering around 4.8 per cent, they shot up last week when the Heritable Bank hiked the deal on its five-year bond by 0.5 percentage points to 5.25 per cent.

The Derbyshire and Leeds building societies quickly followed suit, both launching new bonds offering well over 5 per cent, though for shorter periods. Derbyshire unveiled a new three-year deal at 5.15 per cent, and a two-year one at 5.1 per cent, while Leeds introduced a two-year bond at 5.1 per cent.

Rachel Thrussell of the financial analyst Moneyfacts says the moves are down to rising "swap rates" - the rates at which banks and others lend to each other - for longer-term money. "While this has meant that fixed-rate mortgages have become more expensive, it's good news for savers."

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  • 336 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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