Big Rate Cuts Unlikely In The UK
January 30, 2008 | Leave a Comment
Earlier this week the US Federal Reserve cut its interest rate by 0.75% to 3.5% - a once-in-a-generation event that reflects how seriously the American authorities view the recent turn of events in world stock markets. Normally, the Fed, like the Bank of England, prefers to ease interest rates down gently at a quarter point at a time, so the decision to reduce interest rates by 0.75 of a point in one go is the most swingeing cut in a quarter of a century.
Nationwide Tracker Rates Go Up
January 28, 2008 | Leave a Comment
Homeowners are being buffeted from pillar to post. One minute there is news of a reduction in some fixed deal interest rates; the next there is news of higher tracker rates.
Reduce Your Contribution To The Debt Mountain
January 25, 2008 | Leave a Comment
It looks like 2008 is going to be a bad year for consumer debt. With UK debt at £1.35 trillion and interest payments on that debt at £93bn a year, it is mind-boggling, but how you can reduce your particular contribution to that amount?
PM Holds Off On Northern Rock Decision
January 23, 2008 | Leave a Comment
Prime Minister Gordon Brown has delayed a decision with regard to the future of Northern Rock to give the stricken bank one more chance to find a private buyer. Mr Brown told the City and MPs that they would have to wait for an announcement about Northern Rock’s future.
Dark Days For Housing Market, Says RICS
January 21, 2008 | Leave a Comment
The latest survey from the Royal Institution of Chartered Surveyors (RICS) indicates that house prices are falling at the same rate that they did in the housing market crash of the early 1990s. The feeling is that only further reductions in the base interest rate will avoid a property meltdown.