Sunday, Aug 13, 2006

Mortgage Rates

Independent: Mortgage rates are edging up, not going through the roof

Just when British homeowners had settled into a comfortable pattern of rising house prices and consistently low mortgage rates, along comes a quarter percentage point hike in the base rate and horror stories of property repossessions and record bankruptcy levels.

Some 8,140 properties were repossessed in the first half of 2006, compared with just 4,620 for the same period last year - up 76 per cent - the Council of Mortgage Lenders (CML) said.

Posted by jason @ 01:28 AM (2856 views)
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