Tuesday, April 3, 2012

Joy For Homeowners As Mortgage Rates Soar

MORTGAGE RISE TO HIT MILLIONS

MILLIONS of homeowners are facing “shocking” mortgage rises as banks ramp up their lending rates. Hard-pressed families will be punished in the coming weeks despite base interest rates being at a record low for three years.

Posted by rantnrave @ 02:42 AM (2350 views)
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10 thoughts on “Joy For Homeowners As Mortgage Rates Soar

  • Dodgy ogrady up to her shady tricks again. The daily mail homeownerist editorial vacuum rolls on unmolested.

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  • tough, they,ve been subsidised for too long by savers who have been careful with their cash

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  • sibley's b'stard child says:

    Presumably this is where the word ‘soaring’ holds negative connotations. Quite how soaring house prices is any more desirous than mortgage costs hasn’t been fully explained to me.

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  • SBC – I can see where you’re getting confused… the way I like to look at it, is that high house prices and high housing costs are both really good things, just for different people. This for me is really good news – I love a high COST of housing…

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  • >facing “shocking” mortgage rises
    not shocking at all. what IS shocking though is how low the interest rates have been. go look at interest rates over the last 40 years.

    >Hard-pressed families will be punished
    no, families who borrowed too much are going to face the reality of their own decisions

    >despite base interest rates being at a record low for three years
    a lot longer than 3 years.

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  • sibley's b'stard child says:

    Exactly TT, it’s a status thing. The higher your non-discretionary outgoings, the more affluent you are.

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  • Mortgage lenders provide customers with Key Facts Illustrations which include examples of monthly repayments if interest rates rise (typically by 1%) so it should hardly come as a total shock to borrowers. Perhaps the Government should do a million pound “your home is at risk” ad during the breaks in Britains got talent

    Sib’s according to the gospel of the Express and Mail

    Soaring house prices – “we are all wealthier”

    Soaring mortgage/housing costs – “we are all poorer”

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  • 4.75% interest rates, that is so punishing-NOT!
    But in the weird parallel universe where the writer lives it’s absolutely okay for the MPC to force people who have saved and are renting to subsidise home’owners’ via ZIRP, while helping to keep the price of houses up in the stratosphere.
    I’m thankful for every NZ/Oz dollar and swiss franc I have kept outside this sh*thole of a country!

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  • Remember that these folks are also victims. Bankers artificially reduce interest rates on purpose to suck people in. Then they ramp them up and foreclose. It really is fraud, mis-selling and theft.

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  • mark wadsworth says:

    I’ve only just noticed your headline “Joy For Homeowners As Mortgage Rates Soar” stroke of genius.

    Looks like LIbertass has had his account hacked again by his alter-ego who talks sense. That sums up a large part of Home-Owner-Ism.

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