Thursday, July 1, 2010
You can put rates up then !
Hardly surprising when rates are at 0.5%.. The rate at which mortgage holders and businesses default on loans has fallen "unexpectedly", according to the Bank of England. The drop in the April-to-June period continues a trend seen with home loans since last year. However, the Bank's Credit Conditions Survey said that the default rate was expected to remain unchanged in the third quarter of 2010. Lenders warned that the rate could rise if the economic outlook worsened.