[Cherie]

First rise in a decade, where did that 10 years go

[DemolitionRed]

Hmm, well I'm glad I don't have a fixed rate mortgage that's about to move into a variable rate. All I can say is, those poor bsatards who've up until now, never had to deal with interest rate hikes.

0.5% now. 0.75% or even 1.0% just after Xmas and back down to nothing when our fragile economy crashes. This is about having as much back up as possible before we crash. The problem is, reaching for that back up may be the thing that causes the crash.

All I can say is, I'm glad its happening on the Tory watch.

[smudgie]

just as we are going to spend our savings.

Will be interesting to see if our bank hikes the rate back up on the old ISA.

[Cherie]

Originally Posted by DemolitionRed

Hmm, well I'm glad I don't have a fixed rate mortgage that's about to move into a variable rate. All I can say is, those poor bsatards who've up until now, never had to deal with interest rate hikes.

0.5% now. 0.75% or even 1.0% just after Xmas and back down to nothing when our fragile economy crashes. This is about having as much back up as possible before we crash. The problem is, reaching for that back up may be the thing that causes the crash.

All I can say is, I'm glad its happening on the Tory watch.

this has been coming since we voted out so anyone with a long term left on their mortgage who didn't jump onto a ten or at least a 5 year fix was nuts, the economy grew in the last quarter so I don't know why they raised it

[Cherie]

Originally Posted by smudgie

just as we are going to spend our savings.

Will be interesting to see if our bank hikes the rate back up on the old ISA.

it won't happen for ages, mortgage increases will kick in straight off..

Our mortgage is paid off next year can't wait!

[DemolitionRed]

Originally Posted by smudgie

just as we are going to spend our savings.

Will be interesting to see if our bank hikes the rate back up on the old ISA.

Damn, that sucks... about your savings

[smudgie]

Originally Posted by Cherie

it won't happen for ages, mortgage increases will kick in straight off..

Our mortgage is paid off next year can't wait!

One of the best feelings in the world, that mortgage shackle all gone.

[smudgie]

Originally Posted by DemolitionRed

Damn, that sucks... about your savings

I know, but we will be replenishing them when we sell this house.

[DemolitionRed]

Originally Posted by Cherie

this has been coming since we voted out so anyone with a long term left on their mortgage who didn't jump onto a ten or at least a 5 year fix was nuts, the economy grew in the last quarter so I don't know why they raised it

We've been expecting it but Carney has been playing a cat and mouse game with all the economists.

The value of the pound has substantially dropped and the consequence of that is high inflation. You're right though, against all the odds the economy did start to lift in this last quarter but it was only by 0.1%, so at this stage, it seems risky to put up the interest rate.

[DemolitionRed]

Originally Posted by smudgie

I know, but we will be replenishing them when we sell this house.

You should look into Bitcoin. Its a hefty investment initially but its something I will certainly be buying when I have some spare funds.