current mortgage: What's New

2008-05-14 15:42:28

( Financial )



There are many aspects to consider when considering current mortgage – not only current mortgage interest but also current mortgage rates. What are the recent developments in the current mortgage market?

People have been calling for an interest rate cut to give people a boost before the festive season.

A major national bank warns of a number of risks to the economy next year. All this points to lower interest rates. The bank forecasts a slow down in the economy and a rise in inflation. Even if interest rates fall slightly (˝%) inflation targets would still be hit. The national bank is juggling with the economy. They hope that with tighter credit conditions people will save and in the end spend more. They also hope that higher food and oil prices as well as higher gas bills will keep wage growth n check and hold back consumer spending. They are hoping that the current mortgage will lower house-price inflation and greater uncertainty will mean less spending.

The economy is expected to slow and recover.

But homeowners should not try to copy the central bank’s juggling game.

If your current mortgage is on a fixed rate deal, try and overpay your loan – by paying as little as twenty pounds a month you can cut off thousands off the amount borrowed and cut down the repay time by almost 2 years.

Are you a current mortgage holder – you could be throwing money away if you don’t switch.

If you don’t switch your mortgage, you could be missing out on a significant savings in the long-term according to an industry expert.

Despite the fact that 40% of people with mortgages never switch there are really better deals available. If you’ve been paying the standard available rate for 5 years and your mortgage lasts 25 years you’ve been throwing away a lot of money.

You need to get some good advice – make sure you move to a better option. Tracker mortgages for example are a good current mortgage option.


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