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Base Rates Remain at 0.5%
Last week the Bank of England kept the base rate at 0.5% - the ninth consecutive month that they have remained unchanged.
Tony Rice, of Bedfordshire-based specialist mortgage and insurance brokers TMP Mortgage Zone, said: "The fact that interest rates remain low would indicate that the Bank of England considers the economy still to be in a depressed state. Any recovery is going to be long and slow. More worringly this week is news from the National Association of Estate Agents that indicates first time buyers in November 2009 only made up 19% of house purchasers - their lowest proportion this year."
[ 17-12-2009 ]
