Tuesday, April 1, 2008

Credit crunch is over, house prices rising again!

LIBOR rates back to normal as credit crunch ends

Banks are lending to each other again in rapidly rising volumes, as the LIBOR (interbank rate) fell to it's lowest level since last July. Big banks have wasted no time in re-opening their mortgage books and HSBC has already announced mortgages at just 4.99%. Fionnuala Earley, of Nationwide, said "This is great news for the housing market". Property agents Savills agreed, saying "We can now expect the traditional spring bounce to return". This good news is compounded by Nationwide's latest figures showing house prices rising by 4.8% in March. Northern Rock has relaunched its 125% "Together" mortgage, so even hard-pressed first time buyers can step onto the market now. "First time buyers should get on the ladder now before it's too late", said chief exec Adam Applegarth.

Posted by drewster @ 08:54 AM (1804 views)
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34 thoughts on “Credit crunch is over, house prices rising again!

  • theboltonfury says:

    happy to be the first to admit to be suckered

    how log had you been planning that one for? Since April 2nd 2007?

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  • Nice one !

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  • Thanks πŸ™‚
    It’s been on my mind for a few days now. The hardest part was deciding what to link to!

    In case anybody didn’t realise…

    April Fools!

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  • excellent Drewster

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  • Nice one! πŸ™‚

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  • The question is who are the REAL April fools, those holding shares? Property? Gold? US Dollar? Crude Oil? Or those S2R? Or All of the above?

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  • Nice one Drewster!

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  • tyrellcorporation says:

    Oooh ya bugger!

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  • Chipshopross says:

    Nearly choked on my cornflakes…..very good.

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  • nice one!

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  • Excellent — got me going there! Started to reach for the painkillers / antidepressants….. no need now… phew…

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  • Runforthehills says:

    Now that’s EXACTLY the same feeling I had at the end of 2005 when the market picked up again! EURRGGHHHH!!!! Thanks Drewster.

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  • Landedgentry says:

    ha ha drewster, excellent bro!

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  • sold 2 rent 1 says:

    techieman,

    Good point. Gold has hit 893 today. This is a great time to buy.

    Look at M3 exploding to 19.2pc last week.

    There is a nice pattern emerging.
    US cuts IR and offers bailout money, M3 growth surges
    After a few weeks M3 rate of change starts to fall so another round of IR cuts are needed.

    This has happened in Nov, Jan and March.

    It looks like the M3 will surge over 20pc next week but then fall back again later in April.
    More US cuts will be needed in May to stop a deflationary cycle setting in.

    The pattern is unsustainable and the Fed will run out of ammo sooner or later.

    I still think we have yet to have Elliott wave 5 in gold (from last August). Maybe this super spike will match up with M3 growth hitting 25pc?

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  • just shows how easy it is to con the public…..lol

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  • AAH HAHH AHAHA HAHHA HAHAH
    AAH HAHH AHAHA HAHHA HAHAHAAH HAHH AHAHA HAHHA HAHAH
    AAH HAHH AHAHA HAHHA HAHAHAAH HAHH AHAHA HAHHA HAHAH
    AAH HAHH AHAHA HAHHA HAHAHAAH HAHH AHAHA HAHHA HAHAH
    AAH HAHH AHAHA HAHHA HAHAHAAH HAHH AHAHA HAHHA HAHAHAAH HAHH AHAHA HAHHA HAHAH
    AAH HAHH AHAHA HAHHA HAHAHAAH HAHH AHAHA HAHHA HAHAH
    AAH HAHH AHAHA HAHHA HAHAHAAH HAHH AHAHA HAHHA HAHAH

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  • i almost sent you all a told you so message πŸ™‚

    maybe in 18 months time this will ring true, but hey im an optomist..

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  • Nice one Drewster. Unfortunately the only April fools this year looks like being the MPC.

    If they drop the IR, it sends a clear signal that they want hyper-inflation to gobble up the last 10 years HPI. This, of course,
    will back firte & we’ll just get companies dropping employees, massive unemployment and 5 years of recession; the yanks are
    nearly there.

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  • Fair game Drewster. Well done.

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  • The laughter of realisation was a welcome one after a long period holding my breath. Have to admit I needed to see a few of the other bloggers comments before relaxing.
    Well done mate , you done me like a kipper.

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  • Bet Greenbay was choking on his cornflakes…

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  • 8. tyrellcorporation said…Oooh ya bugger!………….

    Ditto πŸ˜‰

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  • Excellent :o) You know there’s a house price crash when we make April Fools jokes about house prices going UP ;o)

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  • Well done Drewster – I was half expecting a spoof this morning – are there any classics in the newspapers – I havn’t checked?

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  • Very good drewster – I like it.

    You’ve done this a few times I remember.

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  • Doh! I should have seen that one coming πŸ™‚

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  • excellent news

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  • superb drewster

    I thought you’d dug up an old news clip

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  • 30 comments (now 31) BUT 1304 VIEWS

    Looks like a lot of people don’t like admitting they’ve been had!

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  • Super!

    A GREAT scam!

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  • I almost fell for the ‘recently discovered breed of flying penguin’ story this am (good special effects), but this one was just toooooo unbelievable!!!

    Made me laugh out loud though.

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  • Very good:)

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