Thursday, 5 May 2011

Chose a fixed rate mortgage? - This might annoy you!

The Bank of England has left rates at 0.5% for the 27th consecutive month! Whilst people are panicking from the recession and worried that interest rates will increase dramatically they are out getting fixed loans at ~1.5%. Well this is just rubbing it in their face whilst they are stuck paying a higher interest rate!

OK to be honest that's not really the biggest issue, but it really annoys me!

Whats the actual problem?

The actual issue is that economists are worried that the recovery of the economy hasn't 'taken hold'. It is thought that the UK can expect "sluggish and weak" growth for at least two more year! 

Click here to read a short article as to how economists reacted to the sustained interest rate.

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