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Once Again "rates Are Low Better Than 15%?"

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Having only heard snippets of the budget, I returned home today and once again heard that great get out “ you have never had it so good interest rates are low, not like before when they hit 15%”

What these numskulls seem to forget is the rate is not relevant it’s the increases that count.

I no encomiast just a layperson but to me if you mortgaged at 10% and they rose to 15% the interest on your mortgage went up 50% and if you mortgaged at 4% and rates went up 2% the interest on your mortgage goes up 50%.

To my thinking the lower the rates are the more costly these small % jumps are against a high rate and as inflation starts to come in to play these small jumps are going to hurt more and more.

As a note: These Muppets walked in to an interest rate of about 6.5% in 1997 having fallen from approximately 10% in 1992 and it was still falling

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  • 293 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% +
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      • Even
      • up 2.5%
      • up 5%

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