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Realistbear

Halifax Hike The Rates Today And Act As Leader For Others To Follow

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http://www.guardian.co.uk/uklatest/story/0,,-6918386,00.html

Halifax raises mortgage rates

Press Association
Thursday September 13, 2007 12:13 PM
The UK's biggest mortgage lender has announced it is raising its mortgage rates as banks continue to respond to volatility in the global credit markets.
..../
Ray Boulger, senior technical manager at John Charcol, said there was likely to by an "acceleration" in the trend.
He said:
"This gives some comfort to other lenders who are thinking of moving and didn't want to be first
.

So many BTLers were expecting IR to fall as the economy got weaker and to find that the opposite is occuring must be dissappointing. Just goes to show how dangerous assumptions about miracle economies can be. When they unwind they can be treacherous.

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Halifax, which accounts for one in every five mortgages in the UK, is increasing the rate charged on 20 of its tracker mortgages for new customers by between 0.1% and 0.2% from Friday.

0.1-0.2%??????

Edited by madasafrog

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Am I alone in thinking that Mr. Boulger's starting to get a wee bit bearish these days?

Are his comments are getting a little more editting than usual, or has be actually stopped finishing every sentance with "no affordability problems, it's a FTB's nirvana, and BTL is still better than printing your own money" (or words to that effect)?

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