Interest rate decision time again thursday.

Interest Rate decision time again, this thursday the Bank of England will announce whether interest rates rise or remain the same.

New analysis by estate agency Hamptons suggests that a quarter-point jump in rates could add £20 a month to the average UK mortgage; but wide variations in house prices mean that would translate into £52 a month in London and £11 in the north-east.

The nine members of the Monetary Policy Committee will on thursday announce their decision; publish the minutes of the meeting; and present their latest quarterly forecasts for economic growth and inflation.

Mark Carney the governor of the Bank of England has been mentioning that interest rates may need to rise around the end of the year, keen watchers will be looking closely as to how the rate decision is decided this thursday, the MPC is not totally united behind the need to press ahead with rate rises so the strength of the decision to hold rates as is expected will be very interesting.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Weekly News Roundup – 19/04/24

A roundup of the week’s top property and proptech news stories in partnership with Proptech-X Table of Contents Ascendix deep dives into the world of the AVM CEO Adam Pigott on tour in Norfolk with tlyfe App VTS Activate Multifamily launches   Ascendix deep dives into the world of the AVM This month Yana Yarotska from Ascendix…
Read More
Breaking News

Breaking Property News – 18/04/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Scotland to get to Net Zero by 2045 in stunning U-turn Because of its serious implications here in full is the Scottish ‘apology or explanation’ why it thinks it is OK to let the planet burn for the next two decades. Net Zero and…
Read More
Breaking News

Breaking Property News – 17/04/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   CEO Adam Pigott on tour in Norfolk with tlyfe App Full disclosure CEO Adam Pigott and his team are one of my earliest clients, so it is always a pleasure to hear what they have been getting up to. And this week they were…
Read More
Love or Hate Rightmove
Breaking News

Rightmove’s weekly mortgage tracker

Headlines The average 5-year fixed mortgage rate is now 4.84%, up from 4.45% a year ago The average 2-year fixed mortgage rate is now 5.23%, up from 4.77% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.77%, up from 4.46% a year ago The average 60% LTV 5-year fixed mortgage…
Read More
Rightmove logo
Breaking News

Rightmove comment on inflation reducing to 3.2%

UK inflation slowed less than expected last month, making traders and economists more cautious about the likely pace of interest rate cuts. Matt Smith, Rightmove’s mortgage expert said: ‘It’s positive to see inflation continuing to fall this morning, albeit not by quite as much as expected, as the blocks continue to build towards the anticipated…
Read More
Estate Agent Talk

Multifaceted Rewards of Vineyard Estates: Investing in Vineyard Estates in Provence for a Fulfilling Lifestyle Business

Vineyard estates provide an exceptional opportunity to invest in a lifestyle business that aligns with a passion for crafting something unique, freedom for creativity, and business interests while harmonizing with the rhythms of nature. In Provence, you can invest in winemaking and foster authentic connections with the land and community while enjoying your returns. It’s…
Read More