FabSwingers.com forum: Interest rate rise

By *hropshireGent OP Man
over a year ago

Shropshire

I have heard it from a few good sources that the interest rate will rise on Thursday. I have a feeling this will be the start of more.

Interesting times coming that’s for sure

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By (user no longer on site)
over a year ago

"I have heard it from a few good sources that the interest rate will rise on Thursday. I have a feeling this will be the start of more.

Interesting times coming that’s for sure "

How much do you think it will rise?

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By *hropshireGent OP Man
over a year ago

Shropshire

I was told it could jump to 3.5% tomorrow.

Doing a quick bit of Googling just now and it seems that it’s likely

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By (user no longer on site)
over a year ago

"I have heard it from a few good sources that the interest rate will rise on Thursday. I have a feeling this will be the start of more.

Interesting times coming that’s for sure "

The Bank of England has been far too slow to raise interest rates, and we are paying the price through higher inflation than was necessary. It's gross incompetence on the BofE's part, and I'm amazed that Bailey still has a job. Though nowadays I'm not sure why I'm surprised, incompetence is endemic in the public sector.

It's going to be tough for people who have stretched their mortgages to the hilt, but in today's climate I'd fully expect the government to start paying everyone's mortgage before they let any homes get repossessed. They are already paying everything else so an extra couple of trillion can't hurt.

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By (user no longer on site)
over a year ago

The US Fed has raised by 0.75 today and Bailey has been criticised for not following the US's upward trajectory.

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By *uddy laneMan
over a year ago

dudley

"I have heard it from a few good sources that the interest rate will rise on Thursday. I have a feeling this will be the start of more.

Interesting times coming that’s for sure "

If you have a fixed rate debt then there is nothing to worry about, if you have no debt and save there is nothing to worry about.

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By (user no longer on site)
over a year ago

"I was told it could jump to 3.5% tomorrow.

Doing a quick bit of Googling just now and it seems that it’s likely "

I doubt it will be the last this year

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By *hropshireGent OP Man
over a year ago

Shropshire

"If you have a fixed rate debt then there is nothing to worry about, if you have no debt and save there is nothing to worry about."

Yes, a lot of people predicted this coming for years ago and fixed mortgages on low rates for long terms when they had the money to pay it off. Keeping the money in the bank and when the interest rate goes up it will give better returns

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By (user no longer on site)
over a year ago

Since the financial crisis of 2008 interest rates have ben pretty much stuck at 1% or less until very recently. Rates of 5% or 6% were normal.

A central bank cannot leave interest rates low indefinitely, at some point they need tom come up. It does suck for those who overstretched on their mortgage borrowing but at the end of the day that's on them.

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By *eroy1000Man
over a year ago

milton keynes

"I have heard it from a few good sources that the interest rate will rise on Thursday. I have a feeling this will be the start of more.

Interesting times coming that’s for sure "

Yep think that's a given. Only question is by how much I guess. Just watching the news now and their saying in America rates will continue to rise but may be at a slower pace than recently. Think the ECB are also doing it. Seems to be the weapon of choice in most countries - hope they are right

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By (user no longer on site)
over a year ago

The question I ask myself, is exactly how many are affected straight off the bat, would most with mortgages not have fixed rates, so, little short term effect.. those with savings get the greater benefit straight away.. I just don’t know what proportion of people with mortgages in uk have gambled on variable rates..

What it will do for definite is deter new mortgages being taken out for higher values than affordable and bring house prices down, seen it before and history does repeat…

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By (user no longer on site)
over a year ago

"The question I ask myself, is exactly how many are affected straight off the bat, would most with mortgages not have fixed rates, so, little short term effect.. those with savings get the greater benefit straight away.. I just don’t know what proportion of people with mortgages in uk have gambled on variable rates..

What it will do for definite is deter new mortgages being taken out for higher values than affordable and bring house prices down, seen it before and history does repeat… "

True, house prices are far to high so this will be a good thing

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By *hropshireGent OP Man
over a year ago

Shropshire

House prices will fall slightly, maybe 5% at most but I can’t see them falling any more as there is a massive shortage!

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By (user no longer on site)
over a year ago

"House prices will fall slightly, maybe 5% at most but I can’t see them falling any more as there is a massive shortage! "

Quite, interest rates are only part of the picture in house prices. In the main that is driven by supply and demand. In the UK we have too many people chasing too few houses, which is the main thing driving prices higher.

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By *irldnCouple
over a year ago

Brighton

Yep. A drop in house prices will only be a short term market adjustment due people getting twitchy over increased borrowing costs. Ultimately the only way to consistently stop house price inflation is to build more houses!

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By (user no longer on site)
over a year ago

"Yep. A drop in house prices will only be a short term market adjustment due people getting twitchy over increased borrowing costs. Ultimately the only way to consistently stop house price inflation is to build more houses!"

Or to reduce the number of people looking for them.

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By (user no longer on site)
over a year ago

Or to reduce the number of people looking for them. "

Are you suggesting a cull..

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By (user no longer on site)
over a year ago

Or to reduce the number of people looking for them.

Are you suggesting a cull..

Estate agent knocking of enquiring customers and being compensated for lost fees by the government.

Its a very original idea.

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By (user no longer on site)
over a year ago

Or to reduce the number of people looking for them. "

Birth control or a mass killing ?

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By (user no longer on site)
over a year ago

"House prices will fall slightly, maybe 5% at most but I can’t see them falling any more as there is a massive shortage!

We have people who need houses chasing too few houses

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By *irldnCouple
over a year ago

Brighton

Or to reduce the number of people looking for them.

Birth control or a mass killing ? "

Was tempted to carry on the tongue-in-cheek pensioner thread here but doubt it will go down well!

But then...

All people over age of 80 MUST enter a care home freeing up their home for sale.

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By (user no longer on site)
over a year ago

Or to reduce the number of people looking for them.

Birth control or a mass killing ? "

Well with net immigration above 300k there are probably less drastic ways of reducing demand.

Still, no doubt those welcoming all the Albanian doctors and school children with open arms will be happy to pay the higher mortgage costs. It's a small price to pay for some virtue signalling.

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By *ohnnyTwoNotesMan
over a year ago

golden fields

Or to reduce the number of people looking for them.

Birth control or a mass killing ?

Well with net immigration above 300k there are probably less drastic ways of reducing demand.

Still, no doubt those welcoming all the Albanian doctors and school children with open arms will be happy to pay the higher mortgage costs. It's a small price to pay for some virtue signalling."

Yes definitely a small number of Albanians that are causing all our problems.

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By (user no longer on site)
over a year ago

Or to reduce the number of people looking for them.

Birth control or a mass killing ?

Well with net immigration above 300k there are probably less drastic ways of reducing demand.

Still, no doubt those welcoming all the Albanian doctors and school children with open arms will be happy to pay the higher mortgage costs. It's a small price to pay for some virtue signalling.

Yes definitely a small number of Albanians that are causing all our problems. "

I'm glad you have a plan to house 300k extra immigrants a year on top of the usual natural births.

Personally every time I see the immigration figures I go laughing all the way to the bank.

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By *ohnnyTwoNotesMan
over a year ago

golden fields

Or to reduce the number of people looking for them.

Birth control or a mass killing ?

Well with net immigration above 300k there are probably less drastic ways of reducing demand.

Still, no doubt those welcoming all the Albanian doctors and school children with open arms will be happy to pay the higher mortgage costs. It's a small price to pay for some virtue signalling.

Yes definitely a small number of Albanians that are causing all our problems.

I'm glad you have a plan to house 300k extra immigrants a year on top of the usual natural births.

Personally every time I see the immigration figures I go laughing all the way to the bank."

No plan. I don't work for the government or in the housing sector.

Just poking fun at people who blame things on a small group of foreigners.

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By *abioMan
over a year ago

Newcastle and Gateshead

Or to reduce the number of people looking for them.

Birth control or a mass killing ?

Well with net immigration above 300k there are probably less drastic ways of reducing demand.

Still, no doubt those welcoming all the Albanian doctors and school children with open arms will be happy to pay the higher mortgage costs. It's a small price to pay for some virtue signalling.

Yes definitely a small number of Albanians that are causing all our problems.

I'm glad you have a plan to house 300k extra immigrants a year on top of the usual natural births.

Personally every time I see the immigration figures I go laughing all the way to the bank."

Really…. Because if you ask the CBI what is the one thing holding businesses back … it’s that they can’t get people they need in … at the moment there are more jobs available than people who can take them up

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By *irldnCouple
over a year ago

Brighton

Or to reduce the number of people looking for them.

Birth control or a mass killing ?

Well with net immigration above 300k there are probably less drastic ways of reducing demand.

Still, no doubt those welcoming all the Albanian doctors and school children with open arms will be happy to pay the higher mortgage costs. It's a small price to pay for some virtue signalling.

Yes definitely a small number of Albanians that are causing all our problems. "

Wait a minute!!!! Was Liz Truss and Kwasi Kwartang Albanian? What about the rest of the Tory Cabinet Ministers these past 12 years? All Albanians causing all our problems!!!!!!

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By (user no longer on site)
over a year ago

Or to reduce the number of people looking for them.

Birth control or a mass killing ?

Well with net immigration above 300k there are probably less drastic ways of reducing demand.

Still, no doubt those welcoming all the Albanian doctors and school children with open arms will be happy to pay the higher mortgage costs. It's a small price to pay for some virtue signalling.

Yes definitely a small number of Albanians that are causing all our problems.

I'm glad you have a plan to house 300k extra immigrants a year on top of the usual natural births.

Personally every time I see the immigration figures I go laughing all the way to the bank."

Why do you ‘laugh all the way to the bank’?

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By (user no longer on site)
over a year ago

Or to reduce the number of people looking for them.

Birth control or a mass killing ?

Well with net immigration above 300k there are probably less drastic ways of reducing demand.

Still, no doubt those welcoming all the Albanian doctors and school children with open arms will be happy to pay the higher mortgage costs. It's a small price to pay for some virtue signalling."

Are you paying higher mortgage costs?

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By (user no longer on site)
over a year ago

Well the pound is now on a doom loop.

Can’t Rishi just remove the whip from Liz Truss? They’ve got enough MP’s to spare in the house, one less isn’t going to make a difference.

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By (user no longer on site)
over a year ago

Or to reduce the number of people looking for them.

Birth control or a mass killing ?

Well with net immigration above 300k there are probably less drastic ways of reducing demand.

Still, no doubt those welcoming all the Albanian doctors and school children with open arms will be happy to pay the higher mortgage costs. It's a small price to pay for some virtue signalling.

Yes definitely a small number of Albanians that are causing all our problems.

I'm glad you have a plan to house 300k extra immigrants a year on top of the usual natural births.

Personally every time I see the immigration figures I go laughing all the way to the bank.

Why do you ‘laugh all the way to the bank’? "

Supply and demand isn't difficult to understand.

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By (user no longer on site)
over a year ago

Or to reduce the number of people looking for them.

Birth control or a mass killing ?

Well with net immigration above 300k there are probably less drastic ways of reducing demand.

Still, no doubt those welcoming all the Albanian doctors and school children with open arms will be happy to pay the higher mortgage costs. It's a small price to pay for some virtue signalling.

Yes definitely a small number of Albanians that are causing all our problems.

I'm glad you have a plan to house 300k extra immigrants a year on top of the usual natural births.

Personally every time I see the immigration figures I go laughing all the way to the bank.

Why do you ‘laugh all the way to the bank’?

Supply and demand isn't difficult to understand."

Are you a people trafficker?

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By (user no longer on site)
over a year ago

Or to reduce the number of people looking for them.

Birth control or a mass killing ?

Well with net immigration above 300k there are probably less drastic ways of reducing demand.

Still, no doubt those welcoming all the Albanian doctors and school children with open arms will be happy to pay the higher mortgage costs. It's a small price to pay for some virtue signalling.

Yes definitely a small number of Albanians that are causing all our problems.

I'm glad you have a plan to house 300k extra immigrants a year on top of the usual natural births.

Personally every time I see the immigration figures I go laughing all the way to the bank.

Why do you ‘laugh all the way to the bank’?

Supply and demand isn't difficult to understand.

Are you a people trafficker? "
are you dense?

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By (user no longer on site)
over a year ago

Or to reduce the number of people looking for them.

Birth control or a mass killing ?

Well with net immigration above 300k there are probably less drastic ways of reducing demand.

Still, no doubt those welcoming all the Albanian doctors and school children with open arms will be happy to pay the higher mortgage costs. It's a small price to pay for some virtue signalling.

Yes definitely a small number of Albanians that are causing all our problems.

I'm glad you have a plan to house 300k extra immigrants a year on top of the usual natural births.

Personally every time I see the immigration figures I go laughing all the way to the bank.

So what's that got to do with housing demand and pricing?

Let's assume that the 300k extra people this year are all highly skilled, immediately employable, and hard working readily assimilating citizens. In what way will their arrival reduce house prices?

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