What an interesting start to\u00a02009 would it be if interest rates by the middle of February were down to 1%?<\/p>\n
It would certainly be a great start to the year for property owners who were on a discounted rate!<\/p>\n
Well, 12 months ago this may well have been a mere fantasy but today it is looking increasingly realistic…
\n<\/p>\n
Only yesterday I remember looking at the news headlines and it was serious doom and gloom (not that we\u2019ve been short of it). The chancellor was saying we were already in a recession, more companies were laying people off and unemployment had topped 1.8 million.<\/p>\n
On top of that, BT have just announced today that they will also be laying off 10,000 people.<\/p>\n
So what does this mean?<\/p>\n
Well, according to some financial analysts they now expect another 1% base rate reduction in December followed by a 0.5% reduction in January and February also.<\/p>\n
If that happens then the base rate will officially be down to a mere 1%?<\/p>\n
With the LIBOR rate continuing to drop, next year could well be the time when we start to get some affordable mortgage products back on the market!<\/p>\n
Let\u2019s hope so anyway :-).<\/p>\n","protected":false},"excerpt":{"rendered":"
What an interesting start to\u00a02009 would it be if interest rates by the middle of February were down to 1%? It would certainly be a great start to the year for property owners who were on a discounted rate! Well, … Continue reading