Mortgage Rate Rises

purplesky said:
GBP -3.29% vs USD
GBP -2.05% vs Euro

https://www.reuters.com/markets/eur...alm-markets-deutsche-bank-analyst-2022-09-23/

They're correct. The only reason our team's model will be wrong will be because the BOE make some emergency rate hikes within a few weeks, if not days.
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Our team? I've just pulled a cringe muscle.

ETA ah - apologies you meant actually your team I thought you were referring to UKIP!

I would suspect though come Monday, which could be a bloodbath there is a high likelyhood of an emergency rise.

Maybe they wanted stealth devaluation in the first place.
 
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I think the Tories know their time is up and they literally don’t care anymore. Once the boomers are gone the main voting generation are going to be millennials and younger who have been nothing but shafted by the UK government economic policies over the last 10-15 years. Labour included, but mostly the Tories.

In what world do you come into power and decide your silver bullet is to antagonise a housing market that is already in fire and broken from the bottom up. Why is it even on the agenda right now, what with energy prices, war in Ukraine etc. Absolute jokes.
 
Scam said:
I think the Tories know their time is up and they literally don’t care anymore. Once the boomers are gone the main voting generation are going to be millennials and younger who have been nothing but shafted by the UK government economic policies over the last 10-15 years. Labour included, but mostly the Tories.

In what world do you come into power and decide your silver bullet is to antagonise a housing market that is already in fire and broken from the bottom up. Why is it even on the agenda right now, what with energy prices, war in Ukraine etc. Absolute jokes.
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Handouts for all cannot last
 
200sols said:
You think tame Bailey will do anything, we're already 1% below the fed so any rises to meaningfully get on top of this needs to be in the 2-3% region, its not going to happen.
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I agree, it's not going to happen.
At this point, it doesn't matter what tax cuts are made nor what props are put in place to "help" the property market. I think a lot of people are going to be out of a job very soon anyway.
 
200sols said:
I feel bad for those cheering on the stamp duty cuts, they don't realise what is coming.
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To a simpleton, what is coming? Myself and wife planning on moving house in around 11-12 months, is this now a bad idea? Current modest property (value around 160k with around 30k left on a tracker mortgage) and looking at buying around 350-400k.
 
All bets are off. But I feel house prices have to at best stabilise.

I think it will depend how high rates go and for how long. 4-5pc...for 3 years?
That's gotta do it.
 
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Lokai said:
To a simpleton, what is coming? Myself and wife planning on moving house in around 11-12 months, is this now a bad idea? Current modest property (value around 160k with around 30k left on a tracker mortgage) and looking at buying around 350-400k.
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Hard to say if it's a bad idea, I'd imagine you have reasons for wanting to move. But I see the risks like this:
A) Interest rates continue to rise, at least to 5%, potentially to 10% or more. So the interest on your mortgage is going to be a lot.
B) The market crashes and you're in negative equity.
 
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