Wednesday, September 12, 2007
Servicing a mortgage becomes more expensive.
Mr Edmund Conway is reporting doom and gloom again - or perhaps he is merely saying it as it is. I like the picture-caption quote "The average SVR rose by almost a quarter percentage point to 7.69pc last month." This is a large increase from the 2-year fixed rate deals of about 4.5% to 5%. Perhaps David20040_0 could help me learn why house prices are likely to increase despite rising mortgage costs increasing the supply side of the supply vs demand equation. (I'm assuming that rising mortgage costs will result in even more houses being repossessed from indebted families.)