I think the world is moving towards a synchronised double dip recession – US, Europe, China, UK . . . . I think variable interest rates could possibly end up below 5% by July 11. I don’t need to write much else.
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Many errors were made from about Jan 02 to Dec 04 with staying variable, and from about Jan 07 to June 08 with people fixing for long terms. You can see on the charts that from Jan 07 to June 08 there was not much pressure for rates to go up further. However in Jan 02 to December 04 there was significant upward pressure on rates. This indicator could have assisted many borrowers at these times, to make a better decision on whether to fix or not. |
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