Bank Of England Base Rate News

[CretinWatcher]

no need to pity me. I'm most successful person I know and that's just the begining

Have we met?

[MrMarkyMark]

I won't answer your questions so you can mock me more. Google it.

So, you are a man of sound bites with no real underlying detail.

You surprise me

As I have said to you before, I don't hate you.
However, I do think you are a total plum.

HTH

[diseasex]

Have we met?

Possibly no , but I'm all down to meet successful / intelligent people.
That's why I'm moving to London and leave this Manchester damp behind

[WTFH]

Possibly no , but I'm all down to meet successful / intelligent people.

Hello.

I'm happy to "meet" you from the anonymity of an Internet forum. In person, I suspect it won't happen.

[MrMarkyMark]

no need to pity me. I'm most successful person I know and that's just the begining

Must be the company you keep...

[Martin@AS Financial]

Taken from The Financial Reporter

Legal & General: rate cut will not spark significant fall in fixed rates


Fixed rates will continue their downward trajectory, with or without a base rate reduction, according to Legal & General.

Fixed rate mortgages have decreased by an average of 2.5% since 2010, according to its research, with average monthly fixed rates falling by 2.23% for 2-year fixed mortgages.

By comparison, rates on 5-year fixed loans have also seen a consistent decrease, falling close to 3% despite the base rate remaining at 0.5% since 2009.

Although rates fell on average 0.4% every year, the downward trajectory of rates did experience a number of reversals, largely corresponding with wider market turbulence.

This included banks’ stress testing issues in early 2012, which affected lenders’ capital and the availability of funds, and resulted in 2-year rates rising from 2.92% in September 2011 to 3.74% in June 2012.

The results also show a marked fall in fixed rates in the run-up to June’s EU referendum, with speculation that the Bank of England would opt to reduce the base interest rate following the result.

Average 2-year fixed rates fell from 1.88% to 1.74% in this period, whilst 5-year fixed rates saw a fall from 2.71% to 2.57%. L&G says these reductions indicate that lenders had already begun to price in a potential reduction in their mortgage rates well before the Bank of England’s decision, and that a further significant fall in rates is unlikely.

Jeremy Duncombe, Director, Legal & General Mortgage Club, said: “It’s clear from these results that the Bank of England’s base rate is not the defining factor in deciding mortgage interest rates. There has been a consistent and a substantial fluctuation in fixed rates since the 2009 decision to bring the base rate to an historic low level of 0.5%Instead, it’s external factors, including availability of capital and the strength of the economy that play a significant role in fixed rates.

“For all the speculation about the impact of an impending base rate cut, these figures clearly show that lenders have already priced in a rate reduction on their 2-year and 5-year fixed rate mortgages. It’s therefore unlikely that a reduction in interest rates by the Bank of England will see a further significant fall in mortgage rates.

[original PM]

Possibly no , but I'm all down to meet successful / intelligent people.
That's why I'm moving to London and leave this Manchester damp behind

Hmmm....

maybe you just do not know manchester.

[MrMarkyMark]

Hmmm....

maybe you just do not know manchester.

+1, the great times and true hospitality I had in Manchester whilst being out, in the past.

Top place

[WTFH]

Hmmm....

maybe you just do not know manchester.

I suspect the average IQ in Manchester will rise when he leaves.

[shaunbhoy]

Have we met?

You were probably in therapy together.