Moody’s remarks on interest rates
Moody’s who provide credit ratings and research covering debt instruments and securities said that the majority of British homeowners would be little affected by a moderate rise in interest rates, a rise of 1% would only affect about 1% of borrowers in that they would find it difficult to meet their mortgage repayments and living expenses, even if the rate rose by 3% that only 4% of borrowers would be affected.
It was only in the last week that the Bank of England governor Mark Carney gave the strongest indication yet that interest rates could very well rise around the end of the year, unable to say whether before or after year end 2015, of course he mentioned that it was dependent on factors prevailing at the time.
The are some experts who believe rates could start rising this year while Moody’s has forecast the base rate will start to rise very gradually from the end of the first quarter of 2016, to around 0.9 per cent by the end of the first half.
You May Also Enjoy
Construction performance decline persists
US investment boom could lift London house prices by £31,000 over the next two years
The end of the ‘Forever Home’? 63 per cent of young homeowners prioritise flexibility and renovation potential over permanence
Ignoring these simple winter property maintenance tasks could cost you big time
Half of first-time buyers delaying until after the Budget
