Advanced search

Mumsnet has not checked the qualifications of anyone posting here. Free legal advice is available from a Citizen's Advice Bureau, and the Law Society can supply a list of local solicitors.

Interest rates

(7 Posts)
Cat98 Sat 22-Feb-14 07:16:02

I know no one can know for sure, but does anyone know when interest rates are likely to rise? We are on a sv mortgage but it's a great rate and I want to hold off fixing as long as poss but I know it will be advisable at some point soon, what does everyone think?

Bowlersarm Sat 22-Feb-14 07:19:54

I think, from what Mark Carney has been hinting at, another year, and then when they do increase it'll be very slowly.

But it's all guesswork for anyone, really.

Cat98 Sat 22-Feb-14 07:32:48

Thanks. I hope so!

Bowlersarm Sat 22-Feb-14 09:21:56

There's a current thread running about IO mortgages. Have you seen it? A few views there about whether people think interest rates will rise, and when.

Tiredemma Sat 22-Feb-14 09:26:18

Saw a report on the news the other day- apparently they anticipate a 0.25% rise in Autumn 2015. Quite hesitant as a 'shock' imminent rise could damage the economy.

antshouse Sat 22-Feb-14 13:37:52

Radio 4s money box live have just mentioned interest rates and are predicting next spring. I'll have to use listen again as I can't remember why they thought that though.

TalkinPeace Sat 22-Feb-14 13:43:36

Its a bit of a tangential approach,
but the Government lends money to smaller public sector bodies and is required by statute to make a small profit on the deals.

The loans cannot be paid early, so what the rate is, it will stay at for the full term.||PWLB&reportpage=Lending
so within 5 years, they expect to still make money only charging 2% interest
within 10 years they expect to make money charging 3% interest

I liked the idea in the Economist that the rate would start to move but by teeny amounts like 0.1% every quarter
so the mindset of movement would come in, without big jumps

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now