UK Interest Rates
With interest rates unlikely to fall further, attention will continue to be focussed on the Bank’s quantitive easing programme in the near term. However, looking further ahead, attention has already began to turn to the question of when, and how quickly, interest rates are likely to begin to rise. Interest rates are expected to remain unchanged in 2009 and to increase ony gradually next year, although recent readings suggest that market participants are now expecting interest rates to increase at a brisker pace as we move into the later part of 2010.
“Based on this data, Freelancers who are about to remortgage or get a new mortgage and have a preference for a fix rate should aim to secure a 3-5 year fix rate.”
Source - Barclays bank latest bullentin, which provides information only commentary on the issues affecting interest rates.
Tags: Interest Rates, Mortgages