Papitogrande Posted July 11, 2008 Share Posted July 11, 2008 A couple of the big lenders are dropping rates, by a reasonable margin IMO. Halifax have lowered the 2yr fixed by 0.57% and the fees are lower too. C&G have launched lower rates and the feeling is that most lenders will follow suit. Eternal optimists are applauding 'turning the corner', although it's probably shortlived. Also very notable is how much the margin on tracker rates is dropping, usually a clear sign that lenders think the base rate will rise. Quote Link to comment Share on other sites More sharing options...
yaakov Posted July 11, 2008 Share Posted July 11, 2008 A couple of the big lenders are dropping rates, by a reasonable margin IMO. Halifax have lowered the 2yr fixed by 0.57% and the fees are lower too. C&G have launched lower rates and the feeling is that most lenders will follow suit. Eternal optimists are applauding 'turning the corner', although it's probably shortlived. Also very notable is how much the margin on tracker rates is dropping, usually a clear sign that lenders think the base rate will rise. LIBOR also down. Can anyone explain what is going on? Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted July 11, 2008 Share Posted July 11, 2008 C&G have launched lower rates and the feeling is that most lenders will follow suit. I checked these earlier this week and they were up from last time I looked. e.g. 3 yr fixed at 75-90% LTV was 7.04% - SVR is 7%. Have they since changed? Quote Link to comment Share on other sites More sharing options...
Papitogrande Posted July 11, 2008 Author Share Posted July 11, 2008 I checked these earlier this week and they were up from last time I looked. e.g. 3 yr fixed at 75-90% LTV was 7.04% - SVR is 7%. Have they since changed? They are changing on monday, quite a few other lenders will also lower rates next week. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted July 11, 2008 Share Posted July 11, 2008 Yep prices will level, bulls rush in and get it in the neck, as bubble continues to deflate. Standard bubble procedure. Quote Link to comment Share on other sites More sharing options...
Flat Bear Posted July 11, 2008 Share Posted July 11, 2008 LIBOR also down. Can anyone explain what is going on? Remember the 3 monthly cycle, next pressure point in september The central banks are pumping money into the system and putting pressure on the banks. Think about it, why would banks lend money out at a lower rate when they could easily lend the money to an equally prime customer at a higher rate? It doesnt make any business sense at all. Quote Link to comment Share on other sites More sharing options...
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