Friday, February 8, 2008

Good News For The Weekend!

Why the rate cut won't mean cheap mortgages

This is about as honets a view of the mortage / housing market I have read for a week!

Posted by waitingfor hpc @ 01:42 PM (749 views)
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5 thoughts on “Good News For The Weekend!

  • waitingfor hpc says:

    check out the poll at the bottom of the link …. very interesting:

    Would you have preferred the MPC slashed rates by 1.25% like the US Fed did in two weeks?
    Never – the Fed was reacting to big business fears
    26%Yes – the MPC’s decision will not head off a recession
    36%A recession is coming, rate cut or not.
    39%2465 responses, not scientifically valid, results updated every

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  • waitingfor hpc says:

    oops ! hit the mouse too early – it is Friday!

    Would you have preferred the MPC slashed rates by 1.25% like the US Fed did in two weeks?

    26% Never – the Fed was reacting to big business fears

    36% Yes – the MPC’s decision will not head off a recession

    39% A recession is coming, rate cut or not.

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  • disillusioned says:

    I loved this part:

    the average UK consume[r] expects consumer price index inflation to hit 3.3% in the next 12 months, way above the Bank target of 2%, and also above the 3% at which Mervyn King would have to write another letter to the Chancellor (whoever that might be by then).

    So, between now and Feb 2009, up they go again!

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  • and why is it the rates are coming down, yet credit card rates are going up…. and companies like egg are getting rid of the low money making cards for them…

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  • Slowly the information comes out into mainstream media that the mortgage market (and house prices) are controlled by the credit market. Supply and demand for housing has nothing to do with it. There is always demand for houses.
    Once you take a look at the credit market, it is easy to see what is going to happen to the housing market.

    -The only question is- what will happen to the rest of our ecconomy when credit is tight?

    Hmmm, suddenly cheap houses are of little consequence if you are struggling to find a job.

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