Wednesday, January 12, 2011

HSBC thinks IRs are going up soon?

HSBC scraps tracker mortgage fees

"It is offering a best-buy lifetime tracker at 1.79 percentage points above base - giving a current rate of 2.29% - for those with 40% deposit or equity". "All trackers are arrangement fee-free until February 6".

Posted by alan @ 04:18 PM (1636 views)
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6 thoughts on “HSBC thinks IRs are going up soon?

  • Rising swap rates put pressure on fixed deals. Recent increases in swap rates are starting to force up the price of fixed rate mortgages, say industry experts. Since November 2010, two-year swap rates have increased from 1.31% to 1.72% and five-year swaps have gone from 2.18% to 2.82% in the same period. Last week two-year swap rates were 1.62% and five-year swaps 2.75%.

    FULL STORY @ http://www.mortgagestrategy.co.uk/economy/rising-swap-rates-put-pressure-on-fixed-deals/1024488.article

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  • Thanks Jack C for details on swap rates.

    Seems like Haifax are raising their fixed deals by 0.2% today. Do they know something?

    Right….where are those buyers?

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  • @ alan – Northern Rock are pulling their fixed rates on Friday and replacing them with more expensive deals.

    I have just quoted potential FTB @ 6.99% 5 yr Fix (90% LTV) with Halifax and thats before the proposed rate rise just announced !

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  • sibley's b'stard child says:

    Jeez Jack 6.99%? I was quoted just 5.99% just over a year ago for exactly the same product…

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  • Sib’s – the associated fees are also ridiculous at present – I’m more convinced than ever that the market will make a correction.

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  • sibley's b'stard child says:

    My sphincter is practically palpatating at the mere thought. Don’t ruin my evening, please.

    In some ways, i’m reasonably sanguine about such state of affairs – as you point out – it can but lead to a correction in prices and hopefully stave off such madness for a few years at least.

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