6% May Be

[Ivor1]

http://news.bbc.co.uk/1/hi/business/6682971.stm

Must be starting to hit people now, Im defo feeling it in terms of increasing mortgage payments, even more so if we hit 6%. So far its added £165 a month to my mortgage.

[phayes]

BOE Rates

Phew!

Luckily, I just switched to a fixed rate.

looking at historical data etc, we have been getting very low rates in comparison to the last 25yrs or so.

[DaveB]

So I'm gonna be a couple of months out , still not a bad effort I thought

Mortgage has been fixed at a quarter to half a point below base rate for the last 3 years, just signed up for another 2 at 5.14%.

[Ivor1]

Phew!

Luckily, I just switched to a fixed rate.

looking at historical data etc, we have been getting very low rates in comparison to the last 25yrs or so.

I was on discount rate but went for that based on the fact we would need 4 rate rises before it was at the same level as the best fixed deal I could get, still got a year to run on it though, early repayment fees to high to bail, just go to ride it out. Its not to bad for me as my payments are affordable in relation to income I didnt max out, but people who did max out and didnt fix are going to feel it

[Ivor1]

So I'm gonna be a couple of months out , still not a bad effort I thought

Didnt see that post until to late my current mortgage started in Jun 06. Feckdy feck, oh well cant do anything now but cut back on the .....

[Troll]

8% is a prediction for the short term

[Buffoon]

There is a very good chance of another rise at the jun/jul/aug meeting of MPC. Not too sure on another one after that taking rates to 6%, but there is certainly a chance.

[pisces]

The bigger the bubble, the harder it bursts.

[DaveB]

At least a couple of the members of the MPC wanted a half point rise this time. If inflation doesn't look like it's coming under control then a half point rise next month or the month after is getting more and more likely.

I'm starting to think I was too optimistic and we may get 7% before the end of the year.

[Clippy]

8% is a prediction for the short term

Predicted by who?

If rates were to go above 6%, a lot of people are going to struggle with repayments.