On 3 Aug 2018 at 10:36pm Struggling wrote:
0.25% increase announced today.
Might only be small but it's the beginning of annual interest rate rises.
Hold tight anyone on a tracker.
On 3 Aug 2018 at 11:29pm Sensible wrote:
Neither a borrower nor a lender be.
On 3 Aug 2018 at 11:50pm Border Control wrote:
All part of project fear !
On 3 Aug 2018 at 11:55pm Iíll throw a ton like Eric Bristow wrote:
We live in the age of low interest rates. Nothings going to alter that, if you know anything about economics youíll know why. Base rate may hit 3 one day but that will be it
On 4 Aug 2018 at 12:19am Clifford wrote:
Okay I'll throw, we don't know anything about economics so tell us why we live in the age of low interest rates.
On 4 Aug 2018 at 6:06am Good news wrote:
Perhaps I'll get some interest on my savings now.
On 4 Aug 2018 at 6:54am Just Saying wrote:
They actually said a quarter per year for the next 3 years. @Clifforrd, because wage rises are low, hence the rise now as pay increases just exceeded inflation. If rates were high there would be a lot of repossessions, banks would lose money, people would revolt etc. With Brexit uncertainty nothing drastic will happen, theyíre only being raised so they can be lowered as stimulus in the future.
On 4 Aug 2018 at 9:42am Frank wrote:
My first Mortgage was £80k @ 12.5%. I reckon than is still more than many pay today.
On 4 Aug 2018 at 1:51pm Lloyd Wright wrote:
What's a mortgage ?
On 4 Aug 2018 at 2:31pm Clifford wrote:
Just Saying, I think you're confusing cause and effect there. You're not explaining why we live in an 'age of low interest rates'.
On 4 Aug 2018 at 3:42pm Long story wrote:
Money isn't what you think it is.
On 4 Aug 2018 at 5:18pm Just saying wrote:
Clifford itís the same answer, the banks are over exposed and capitalism rules (they look after their own). In the early 2000ís house prices lost the plot and became out of touch with salaries (cause planners, some say immigration), banks solved it with stupid loans (interest only, 6x salary etc), to stop the country collapsing in 2008 interest was lowered to get the public to borrow and spend their way out of it (plus not worth saving so savers were meant to help by blowing their savings). Hence low interest rates for 10 years.
On 4 Aug 2018 at 6:23pm Clifford wrote:
Yes, you're beginnning to make sense Just saying. The paradox is that consumers are still paying for their consumption - which is all that's keeping the economy going - through borrowing. I think, though I haven't looked the numbers up, personal borrowing is as high as when the crisis struck. We've got another one coming and this is going to be a whopper.
On 4 Aug 2018 at 8:28pm Just saying wrote:
God yes, the country is held up due to imaginary money, in turn due to high house prices. Itís scary and one day the balance on everyone loans will be due (letís hope house prices are still high that day).
For now the BOE is on the only possible path, creep up the interest rates so they have room to manoeuvre, meanwhile hoping people can cope with the extra pressure (for now wages will offset it).