Jump to content
House Price Crash Forum
Sign in to follow this  

Interest Rate Rise 'inevitable'

Recommended Posts


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."

Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 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%

  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.