Archive for the 'Interest Rates' Category |
The Bank of England today voted to keep the base rate at 5.75%. The move was generally expected as the Bank needs to strike a balance between keeping inflation under control but also not increasing the cost of borrowing money further following the Northern Rock crisis.
It is generally expected that the next move will be downwards, and not in the too distant future.
The Bank of England today voted to keep the base rate at 5.75% - the value it was raised to in July. This is good news for borrowers, after five rate increases in the last year. However, many commentators are expecting another rate rise before the end of 2007. This is because the Consumer Price Index at 2.4% - above the government's target of 2.0%.
The Bank of England today voted to increase the base rate by a quarter point from 5.5% to 5.75%. This will add around £16 to the monthly payment for a £100,000 mortgage that follows the base rate.
Despite 5 increases in less than a year, many market analysts predict that there may be another increase in 2007.
The Bank of England has voted to leave its base rate at 5.5% in June. This is good news for mortgage holders, however commentators widely expect another rate rise this year. The base rate has risen 1% since August last year, but inflation is still strong, so another rise may be necessary.
The Bank of England has today voted to increase the base rate by a quarter of one per cent to 5.5%. This has brought the rate to its highest level since 2001. With inflation still higher than desired, the move was widely expected.
In terms of mortgages, if your interest rate follows the base rate, then you can expect an increase of around £16 for very £100,000 you have borrowed.