Wednesday, September 12, 2007

Servicing a mortgage becomes more expensive.

Mortgage rates hit nine-year peak

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.)

Posted by talking rot @ 05:41 AM (501 views)
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One thought on “Servicing a mortgage becomes more expensive.

  • This is front page news in the Telegraph!! So the cost of a mortgage is likely to be 30% more than a year ago – Wow! Thats devastating news – imagine if the price of a car went up by 30% or the cost of your holiday. Result – huge drop in demand! The headline might as well say – ‘House Price Crash sarts here’ !

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