Interest Rates Drop??? - December 6, 2007
Its finally happened….
Interest rates have dropped 0.25%
Its not a massive amount but on a £100,000 mortgage it would save you about £50-£75 a month.
For me, its a little bad news. I am looking to buy a house and if the housing market were to collapse I could do one of two things:
a) pick up a reposession
b) buy at a lower price
I know its good for existing homeowners but i’m not one of them.
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