"The Easy Way to Get Your Best UK Mortgage" |
|
| Helping
over 300,000 people a year find the right mortgage NINE YEARS ONLINE |
|
|
|
|
||||||
|
|
Historic UK Interest Rates Forecasts and Predictions for Home and Property in the UK at 2nd March 2007
| UK Interest Rate: 5.25% UK Interest Rates Forecast: Further 0.25% rise still likely in April or May A
mixture of news this week – from the MPC's dove-like
behaviour on one hand, to rising inflation on the other.
What does it mean for interest rates? The minutes from the March meeting of the Bank of England Monetary Policy Committee, published this week, provided some surprises for analysts in the city, who have started to reconsider their interest rate forecasts for the rest of the year. It appears that the committee voted 8-1 in favour of holding interest rates in March, with one member, Professor David Blanchflower, voting against a rise. The real surprise was that no one voted in favour of a rise – most city experts had been expecting a 7-2 vote, with seven holds and two votes for an increase to interest rates. This suggests that the MPC may not be as eager to put up rates again as had been thought, although the latest inflation figure suggest that at least one more rise is likely. Inflation Up Again – Interest Rates To Follow? The latest official inflation figures, covering February 2007, reveal that both RPI and CPI inflation have risen. The RPI (Retail Price Index) measure rose to 4.6 per cent in February, its highest level in sixteen years, and 0.4 per cent up on January's rate. The government-preferred CPI measure, which excludes items such as mortgage interest and Council Tax, also rose from 2.7 per cent to 2.8 per cent. It had been expected to remain unchanged, and these increases will make another increase to interest rates more likely in coming months, as the Bank of England endeavours to drive CPI inflation down towards the government's 2 per cent target. Mortgage Lenders Reduce Fixed Rates In a sign that mortgage lenders are not expecting many more interest rate rises, some lenders have begun to reduce the interest rates on their fixed rate mortgage products. Nick Gardner, director of Chase de Vere Mortgage Management, said that "A few weeks ago the City was factoring in two more rate rises this year, but now the market is only expecting one." This sentiment was echoed by several other lenders. |
Latest Interest Rates Forecast in the UK
Interest Rates Forecast in the UK
Interest Rates Forecast to 10/10/06
Interest Rates Forecast to 20/10/06
Interest Rates Forecast to 27/10/06
Interest Rates Forecast to 7/11/06
Interest Rates Forecast to 22/11/06
Interest Rates Forecast to 27/11/06
Interest Rates Forecast to 3/12/06
Interest Rates Forecast to 10/12/06
Interest Rates Forecast to 17/12/06
Interest Rates Forecast to 22/12/06
Interest Rates Forecast to 29/12/06
Interest Rates Forecast to 5/1/07
Interest Rates Forecast to 12/1/07
Interest Rates Forecast to 19/1/07
Interest Rates Forecast to 26/1/07
Interest Rates Forecast to 2/2/07
Interest Rates Forecast to 9/2/07
Interest Rates Forecast to 16/2/07
Interest Rates Forecast to 23/2/07
Click here to go to the Home page and find out more information about UK Mortgages, UK Mortgage Quotes, UK Morgage Finance, Interest only mortgages (even with bad credit) or Home Insurance Policies Quote.
Browse over 200 Free Mortgage TipsYour Complete Guide to UK Mortgages Find Out How to Win the Race to Buy Your Home - Home Buyers Guide Learn How to Save ££s by Remortgaging Read the Insider Info on Home Insurance Site Help |
 |  |  |  |
|
©Moneysorter Ltd. Office registered in England, Company Number: 3891081, VAT reg no 769 7245 74 Data Protection Register number Z4835056 Consumer Credit Licence 509896. This website is Approved by Cradon Investments Ltd Authorised and Regulated by the Financial Services Authority FSA No: 300505 |