Reply With QuoteI was paying around 18% when I first had a mortgage.
1.75% is still dreamland.
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We would have loved that when we had a mortgage and savers have had a bad deal since the 2008 banksters crashed the market.
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I was paying around 18% when I first had a mortgage.
1.75% is still dreamland.
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Hear that, ideally we should have an economy with low inflation and interest rates at around 5% that gives some reward for savers and an incentive to lend sensibly. Sadly a double whammy of sky rocketing inflation and people with huge levels of borrowing is a recipe for disaster.Originally Posted by mickd1961
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Had a mortgage when pound skidded out of EMS.....back in the 90's...
Went to work in the morning when interest rate was at about 8%. Then after Soros shorted the £, interest rates went up to about 16% for a few hours, then back to 8 after Stirling crashed out....but agree interest rates today are dreamland indeed.
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