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Bank Base Rates Remain at 0.5%
Last week the Bank of England held the base rate at 0.5% for the tenth consecutive month.
But with inflation figures expected to show a sharp rise due out next week, the question is how long the Bank can keep interest rates at their current levels.
Tony Rice, of Bedfordshire-based specialist mortgage brokers TMP Mortgage Zone, said: "Interest rates are going to go up at some point and there is no clear indication or agreement amongst analysts how fast or how sharply they might rise. But there are signs that confidence is returning to the housing and mortgage market. Average house prices have risen by a little over the past 12 months and many lenders are reducing the rates on their fixed rate mortages as the market starts to become competitive again."
[ 14-01-2010 ]
