Interest rates won't be cut, mortgage holders told by Finance News Bulletin

Published: 14/12/07

Mortgage holders are unlikely to see the fundamental cost of borrowing cut when the next monetary policy group (MPC) interest rate decision is madeThis is the view of Lloyds TSB chief economist Trevor Williams, who has predicted that the MPC would hold rates stable at 575 per centMr Williams explained that the MPC is looking for "proof" that the economy is "actually leaving to slow" before it makes changes to the interest rate

As the economy slows in the next year, interest rates will go down to five per cent, Mr Williams predictedSpokespersons for the Centre for finances and Business Research Ltd and HSBC both agreed that the MPC is improbable to vote for a change in the interest rate this weekMeanwhile, Global imminent chief UK and European economist Howard Archer supposed it was not clear-cut that interest rates would remain unchanged"Well it is obviously very tight

We are going for no alter, but we wouldn't be surprised if they do It's right on the edge," he commentedA recent poll by the Council of Mortgage Lenders showed that the most significant factor in discouraging populace from taking out a long-term fixed-rate mortgage is that they worry about losing out if interest rates go downInterest rates won't be slash, mortgage holders toldNone of the information on this website is future to promote any specific mortgage manufactured goods or provide mortgage advice

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