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Anyone fretting about the likelihood of further interest rate rises on their mortgage?
BoE interest rate has just gone up another 0.5%
Now at 5.00%
The fact is, we've all been living through a fifteen year bubble of low interest rates, and they've just gone back to normal.
This last decade has been miserable for twenty somethings leaving University to start work with rising rents and ever more precarious work and then they had brexit foisted on them.
Rents going sky high with old timers pointing fingers at them for drinking lattes.
What a world we live in.
Yep. Difference now, compared to when we oldies 'endured' 13 and 15% rates for a while in the 80s, is that houses were 3x salary not 6 or more times salary. The, "Suck it up like we had to!", brigade don't get that.The fact is, we've all been living through a fifteen year bubble of low interest rates, and they've just gone back to normal.
I paid off my mortgage when interest rates were at their lowest (doh!), but I'm happy now that I did.Anyone fretting about the likelihood of further interest rate rises on their mortgage?
Apart from interest rates in or near to double digits which kept house prices down. When they started getting into fractions of one percent, what happened to house prices then?There's only so much people are willing to take, why should at least two generations now be completely screwed for the comfort of the Boomers who didn't have any of this to contend with
It's because of those stupidly low rates that house prices rise to 6 times salary.Yep. Difference now, compared to when we oldies 'endured' 13 and 15% rates for a while in the 80s, is that houses were 3x salary not 6 or more times salary. The, "Suck it up like we had to!", brigade don't get that.