m4DD0gg Posted 2 November 2017 Posted 2 November 2017 Really going to go up this time i think. Going to make a lot of difference to a lot of people who have become dependent and even created a life around the historically low rate. Mark Carney wants to see a move to eventually 2-2.5%, that could mean up to 300 quid extra pcm for the average house hold.
m4DD0gg Posted 2 November 2017 Author Posted 2 November 2017 Wont make a jot of difference to inflation
SpacedX Posted 2 November 2017 Posted 2 November 2017 51 minutes ago, m4DD0gg said: Mark Carney wants to see a move to eventually 2-2.5%, that could mean up to 300 quid extra pcm for the average house hold. Very much depends on the size of the mortgage. I would suggest on a repayment of £125,000 that would equate to about half that.
m4DD0gg Posted 2 November 2017 Author Posted 2 November 2017 Just now, Line-X said: Very much depends on the size of the mortgage. I would suggest on a repayment of £125,000 that would equate to about half that. yeh shame that the average house debt in the uk is twice that figure.
Babylon Posted 2 November 2017 Posted 2 November 2017 30 minutes ago, StanSP said: Gone up to 0.5%. Excellent. Fingers crossed for more... from a savers perspective.
SMX11 Posted 2 November 2017 Posted 2 November 2017 Central banks are trying to keep their powder dry for when we have a downturn. BoE are behind the curve unfortunately.
SpacedX Posted 2 November 2017 Posted 2 November 2017 2 minutes ago, m4DD0gg said: yeh shame that the average house debt in the uk is twice that figure. Actually no it isn't - although obviously it varies with location. In London which is obviously the most expensive area to live the average outstanding mortgage is around £210,000 contrast that with the North East where it is about £79,000. Here in the East Midlands it is around the £95,000 mark which is just under the overall national average.
StanSP Posted 2 November 2017 Posted 2 November 2017 Just now, Wortho said: Hasn't it gone up .25%?? yeah, from 0.25%
SpacedX Posted 2 November 2017 Posted 2 November 2017 Just now, StanSP said: yeah, from 0.25% Which equates to about £15 on the average repayment. First time in a decade. The worry to me is that real wages as so much lower and so many more household incomes are vulnerable. Moreover, many first time buyers are unaware of the disastrous negative equity crisis of the early nineties. Saying that, demand for housing stock is so high I don't believe that we will ever witness house values plummet to the same extent.
Guest MattP Posted 2 November 2017 Posted 2 November 2017 Carney saying the incomes squeeze is ending so he is acting now on interest rates to stop it returning via higher inflation, will this really influence borrowing though? Federal Reserve and ECB are also rumoured to be doing the same according to the FT.
Realist Guy In The Room Posted 2 November 2017 Posted 2 November 2017 Borrowers had it good for too long. Time for it to bite some people in the ass.
Guest Posted 2 November 2017 Posted 2 November 2017 22 minutes ago, MattP said: Carney saying the incomes squeeze is ending so he is acting now on interest rates to stop it returning via higher inflation, will this really influence borrowing though? Federal Reserve and ECB are also rumoured to be doing the same according to the FT. Problem is Carney has been wrongly predicting wage growth for ages. There are no signs of it happening yet, presumably partly because business doesn't know how to plan for Brexit at this moment. 10 minutes ago, Realist Guy In The Room said: Borrowers had it good for too long. Time for it to bite some people in the ass. Unfortunately many borrowers are borrowing to survive this time around.
Guest Kopfkino Posted 2 November 2017 Posted 2 November 2017 15 minutes ago, MattP said: Carney saying the incomes squeeze is ending so he is acting now on interest rates to stop it returning via higher inflation, will this really influence borrowing though? Federal Reserve and ECB are also rumoured to be doing the same according to the FT. Does anyone actually believe anything Carney says anymore? The bloke has basically said the rate rise is because the economy is not very strong. 2019 can't come soon enough. Central bankers have lost control and are now scrambling to regain it. They have to be seen to be doing something and this is all they could do. Should have stayed at 0.5% last year
Guest Kopfkino Posted 2 November 2017 Posted 2 November 2017 4 minutes ago, toddybad said: Problem is Carney has been wrongly predicting wage growth for ages. There are no signs of it happening yet, presumably partly because business doesn't know how to plan for Brexit at this moment. Private sector wages are beginning to show some pick up. They're pinning their hopes on that.
yorkie1999 Posted 2 November 2017 Posted 2 November 2017 Big deal, try 15% as it was when i bought a house.
Innovindil Posted 2 November 2017 Posted 2 November 2017 34 minutes ago, toddybad said: Problem is Carney has been wrongly predicting wage growth for ages. There are no signs of it happening yet, presumably partly because business doesn't know how to plan for Brexit at this moment. Unfortunately many borrowers are borrowing to survive this time around. By survive do you mean get by or actually live? Need to know for investment purposes. Know a decent carpenter who's looking to expand his coffin making business.
Realist Guy In The Room Posted 2 November 2017 Posted 2 November 2017 4 minutes ago, Innovindil said: By survive do you mean get by or actually live? Need to know for investment purposes. Know a decent carpenter who's looking to expand his coffin making business. Or just buy as much bitcoin as you possibly can.
Guest Posted 2 November 2017 Posted 2 November 2017 20 minutes ago, yorkie1999 said: Big deal, try 15% as it was when i bought a house. House prices weren't 8-10x average wages then. Housing costs were a far smaller % of wages also.
Guest Posted 2 November 2017 Posted 2 November 2017 5 minutes ago, Innovindil said: By survive do you mean get by or actually live? Need to know for investment purposes. Know a decent carpenter who's looking to expand his coffin making business. You've told me numerous times you're don't well. Fantastic for you. But why that means you have to find others struggling funny I don't know.
VLC86 Posted 2 November 2017 Posted 2 November 2017 33 minutes ago, yorkie1999 said: Big deal, try 15% as it was when i bought a house. To think that you also had to live through Dinosaurs, Tough times.
sk3since03 Posted 2 November 2017 Posted 2 November 2017 18 minutes ago, Realist Guy In The Room said: Or just buy as much bitcoin as you possibly can. I read that by 2020 1 bitcoin could be worth a million Broke past the $7,000 mark today
yorkie1999 Posted 2 November 2017 Posted 2 November 2017 3 minutes ago, Costock_Fox said: To think that you also had to live through Dinosaurs, Tough times. What, in 1990.
Innovindil Posted 2 November 2017 Posted 2 November 2017 23 minutes ago, Realist Guy In The Room said: Or just buy as much bitcoin as you possibly can. Eh, keep thinking about it. But such risky ground. 21 minutes ago, toddybad said: You've told me numerous times you're don't well. Fantastic for you. But why that means you have to find others struggling funny I don't know. Need a lefty that's not frothing at the mouth to tell me if this means people are going to die or not. Thanks.
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