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Monday, November 18, 2013

Interest rates on the rise?

The latest improving unemployment figures have suggested that interest rates may be on the rise sooner than many expected. The head of the Bank of England Mark Carney's policy of holding interest rates at there historic low until unemployment drops below 7% has poured speculation on earlier rate rises.  Many in the press now expect the first rise to come as soon as 2015 rather than 2016.  The good news for landlords such as myself on interest related mortgages  is that we still have several years of ridiculously low rates and corresponding record rental profits.  Predictions on interest rates in the Mail using swap rates at the beginning of November were:

• 0.590% - one year

• 0.845% - two years

• 1.755% - five years

Have a look at what the pundits are saying about interest rate rises in:

This is money
The Independent
The Guardian

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