Interest Rates Unchanged: News For Borrowers
Posted by: Jenny Challenor
August 2nd, 2007.
As interest rates are held at 5.75% by the Bank of England, we look at the outlook for borrowers.
Borrowers will be breathing a sigh of relief as the Bank of England have today announced interest rates are to remain at 5.75%. For those with a mortgage and not on a fixed rate deal, you are not out of the woods yet. Interest rates have risen five times in the past year and today’s announcement is likely to be just a pause in the proceedings, as rates are tipped to hit 6% this Autumn.
The message is simple. If you are worried about rising interest rates it’s time to batten down the hatches. Speak to an Independent Mortgage Adviser about your existing arrangement to see if you could benefit by moving onto a better deal and budget now while you are ahead of the game.
This entry was posted on Thursday, August 2nd, 2007 at 1:56 pm and is filed under Mortgages.
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