interest rates aren't set by the government

(dozers, do fuck off ur a nob m8, Wed 19 Mar 2014, 12:32, 1 reply, 10 years ago)

you know what i mean
the BofE have been making noises, but i don't think they'll do it quite yet. on the horizon though, imho.
( rachelswipe with a fork, Wed 19 Mar 2014, 12:33, Reply)

Carney is saying 3% by 2017
But you have to bear in mind that historically, mortgage rates were base rate plus 2 and base rates were inflation plus 2. It's unlikely to get back to those levels but when rates do rise it''ll be gradually and likely around 0.25% each time.

6% mortgage rates would fuck a lot of people.
(dozers, do fuck off ur a nob m8, Wed 19 Mar 2014, 12:37, Reply)

The moment they do, the economy will fucking tank.

(Bazongaloid, Wed 19 Mar 2014, 12:37, Reply)

i think they are frightened of this, but at some point it will have to happen
when i have to do complex interest calculations going back over a few years, it's amazing to think that it used to be up and down but up a LOT more than 0.5%. people on a budget with their mortgage will be in for a shock if it goes up to even 1%.
( rachelswipe with a fork, Wed 19 Mar 2014, 12:42, Reply)

forward guidance was sensible until the unemployment figures dropped too quickly

(dozers, do fuck off ur a nob m8, Wed 19 Mar 2014, 12:44, Reply)