AvidFan Posted July 17, 2007 Share Posted July 17, 2007 http://www.thisismoney.co.uk/news/article....e_id=2&ct=5 Millions of homeowners are facing further mortgage misery. Economists said today another increase in the cost of borrowing is almost certain and could come next month. It would be the sixth since last August and take the Bank of England's base rate from its present 5.75% to 6%, the highest level since February 2001. Goal! Quote Link to comment Share on other sites More sharing options...
thedebtisreal Posted July 17, 2007 Share Posted July 17, 2007 http://www.thisismoney.co.uk/news/article....e_id=2&ct=5Goal! Cheers. I was looking for the link. I also did not know how high core inflation is! Quote Link to comment Share on other sites More sharing options...
Guest The_Oldie Posted July 17, 2007 Share Posted July 17, 2007 Fears of an interest rate rise increased when figures were released today showing that prices are rising too quickly. Fears of an interest rate rise? It's great news for savers! Quote Link to comment Share on other sites More sharing options...
bobthe~ Posted July 17, 2007 Share Posted July 17, 2007 Fears of an interest rate rise? It's great news for savers! Both of them. Quote Link to comment Share on other sites More sharing options...
Sinking Feeling Posted July 17, 2007 Share Posted July 17, 2007 RPI up again! hmmmmm I wonder why Brown prefers the CPI! Quote Link to comment Share on other sites More sharing options...
AvidFan Posted July 17, 2007 Author Share Posted July 17, 2007 Well, I'd be happy with another rise. Would the other saver care to comment? Quote Link to comment Share on other sites More sharing options...
Fergie Posted July 17, 2007 Share Posted July 17, 2007 Would the other saver care to comment? I'd be happy Quote Link to comment Share on other sites More sharing options...
Levy process Posted July 17, 2007 Share Posted July 17, 2007 http://www.thisismoney.co.uk/news/article....e_id=2&ct=5Goal! GAME ON! Quote Link to comment Share on other sites More sharing options...
thedebtisreal Posted July 17, 2007 Share Posted July 17, 2007 GAME ON! Glad to see you updated your signature, Levy. Can we have the calm, rational discussion now or are we going to have to wait until December? Quote Link to comment Share on other sites More sharing options...
Levy process Posted July 17, 2007 Share Posted July 17, 2007 Glad to see you updated your signature, Levy. Can we have the calm, rational discussion now or are we going to have to wait until December? No, let's wait until December. I'll probably be more wrong than now! LOL! Quote Link to comment Share on other sites More sharing options...
Guest grumpy-old-man Posted July 17, 2007 Share Posted July 17, 2007 No, let's wait until December. I'll probably be more wrong than now! LOL! Levy Process, I'm very impressed with the fact that you have changed your sig to reflect your earlier prediction. There's not many that would do it, they would just get another username. I have watched your sentiment change over the last 6 months, we had a few differences of opinion last year (all good fun of course). I don't mean to sound patronising in any way. Quote Link to comment Share on other sites More sharing options...
ScaredEitherWay Posted July 17, 2007 Share Posted July 17, 2007 I am a saver. I don't want the extra increase because it will hit the little people who weren't overspending. It is a shame there isn't a mechanism to protect the basic non-greedy home but hit the credit card debts/over spenders/high street shopping whores etc. I don't want to see a crash. Yes I'd like to think that over time prices would stabilise/drop a bit, so I could get a bit more for my savings. But I don't want to cash in the misfortune of somebody else who might have just had a change of circumstances causing them to have to bail out. As the next property I buy will be a 1-bedroomed little place I am fearful that I am buying somebody's lost dream, and I don't want that. However, I think the rates won't go up in August. I think it is [a] too soon after the last one -and- slap bang in the middle of the summer holiday period and at a time when the housing market I believe traditionally goes a bit dead, I think they will sit on it and see what August's figures are like. Maybe even September's before nudging it up in October if needed. P.S. I'm not even vaguely knowledgeable, so don't waste your time next month pointing out how wrong I was here. Just my opinion. Quote Link to comment Share on other sites More sharing options...
DrBob Posted July 17, 2007 Share Posted July 17, 2007 Well I'm hoping for a rate rise ASAP. I'm a 'saver', and am planning to emigrate in December, so anything to help my interest earnings and keep my sterling savings strong is a bonus. On the day the rates went up to 5.75% my girlfriend & I went out for a celebratory meal - we plan to do that for each rise! Quote Link to comment Share on other sites More sharing options...
UNSHURE Posted July 17, 2007 Share Posted July 17, 2007 http://www.thisismoney.co.uk/news/article....e_id=2&ct=5Goal! Moneyweek undertake round table discussions on property every now and again. They get a number of experts together such as Ian Wrigglesworth (strongly bullish). In her interview, on CWR, the other week, Meryn Somerset Webb talked about the last housing round table. In this discussion, she asked the experts what they thought would be the one main factor that would turn the UK Property market round. They all agreed that it would be 6% interest rates. 2-0 (in the 89th minute) You can find the UK Property discussion here Quote Link to comment Share on other sites More sharing options...
Jimmy2Times Posted July 17, 2007 Share Posted July 17, 2007 Well, I'd be happy with another rise. Would the other saver care to comment? Same here cheers. Quote Link to comment Share on other sites More sharing options...
ianbeale Posted July 17, 2007 Share Posted July 17, 2007 Well I'm hoping for a rate rise ASAP. I'm a 'saver', and am planning to emigrate in December, so anything to help my interest earnings and keep my sterling savings strong is a bonus.On the day the rates went up to 5.75% my girlfriend & I went out for a celebratory meal - we plan to do that for each rise! Quote Link to comment Share on other sites More sharing options...
IDN Posted July 17, 2007 Share Posted July 17, 2007 consecutive rate rises at current IR would indicate that behind the scenes is a great big effin monster- Quote Link to comment Share on other sites More sharing options...
thedebtisreal Posted July 17, 2007 Share Posted July 17, 2007 consecutive rate rises at current IR would indicate that behind the scenes is a great big effin monster- Much as I hate to be a party pooper, does this article actually quote any experts or economists? Quote Link to comment Share on other sites More sharing options...
leftalongtimeago Posted July 17, 2007 Share Posted July 17, 2007 Betfair odds are currently 8.4 i.e. over 7/1 against a .25% rise in the interest rate in August. So if you believe the 'experts' - wade in! 'No change' is currently trading at 14/1 ON! The money is on no change it would seem. But b*ll*cks I've put my cash on a .25 rise. But then again, I backed Vinokourov to win the Tour de France! Quote Link to comment Share on other sites More sharing options...
leftalongtimeago Posted July 17, 2007 Share Posted July 17, 2007 The offer on a .25 rise is now 7.0 i.e. 6/1. The value is disappearing fast... Quote Link to comment Share on other sites More sharing options...
headmelter Posted July 17, 2007 Share Posted July 17, 2007 "It will be alarming news for Gordon Brown's new government and raises the risk of a house price crash." Quote Link to comment Share on other sites More sharing options...
Charlie Don't Surf Posted July 17, 2007 Share Posted July 17, 2007 August my ****! Haven't the markets been pricing in September for a few months? This is the BoE we are talking about, it's not like they are going to suddenly become all proactive and actually try and target their 2% mandate! Quote Link to comment Share on other sites More sharing options...
leftalongtimeago Posted July 17, 2007 Share Posted July 17, 2007 August my ****! Haven't the markets been pricing in September for a few months? This is the BoE we are talking about, it's not like they are going to suddenly become all proactive and actually try and target their 2% mandate! B*ll*cks. Do you think there is any chance that betfair will give me my money back? Quote Link to comment Share on other sites More sharing options...
HPC Convert Posted July 17, 2007 Share Posted July 17, 2007 I don't want to see a crash. Yes I'd like to think that over time prices would stabilise/drop a bit, so I could get a bit more for my savings. But I don't want to cash in the misfortune of somebody else who might have just had a change of circumstances causing them to have to bail out. As the next property I buy will be a 1-bedroomed little place I am fearful that I am buying somebody's lost dream, and I don't want that. To your credit. Quote Link to comment Share on other sites More sharing options...
VeryMeanReversion Posted July 18, 2007 Share Posted July 18, 2007 Another HPC poster (thanks) pointed us to this chart: http://www.kshitij.com/utilities/funcharts/ukboe.shtml Shows that the MPC just follows the LIBOR rate with an orange crayon It takes them up to 3 months to get the crayon out of the packet on the way up, one month on the way down. The figures are up-to-date (last entry July 12th), LIBOR up, MPC up... and fast. No hints of a permanently high plateau yet. VMR. Quote Link to comment Share on other sites More sharing options...
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