Interest Rate Rises Coming - Thanks to Rachel Reeves

10 Year Gilt rates have increased 0.75% per annum since September 2024.

As a result the £40,000,000,000 that Rachel from Accounts plans to borrow to waste will cost an EXTRA £3,000,000,000 in interest

There are c. 1,000,000 Fixed Rate Mortgages maturing every year for the next three years. Typical average rates on these are 3-3.25%.

The new rate that these borrowers will pay is directly linked to Gilts.

I am sure that these borrowers will be overjoyed, especially given that wage growth forecasts have been downgraded (unless they 'work' in the Public Sector of course).
 
A
Led By Donkeys said:
10 Year Gilt rates have increased 0.75% per annum since September 2024.

As a result the £40,000,000,000 that Rachel from Accounts plans to borrow to waste will cost an EXTRA £3,000,000,000 in interest

There are c. 1,000,000 Fixed Rate Mortgages maturing every year for the next three years. Typical average rates on these are 3-3.25%.

The new rate that these borrowers will pay is directly linked to Gilts.

I am sure that these borrowers will be overjoyed, especially given that wage growth forecasts have been downgraded (unless they 'work' in the Public Sector of course).
Click to expand...
Are you an economist?
 
Led By Donkeys said:
10 Year Gilt rates have increased 0.75% per annum since September 2024.

As a result the £40,000,000,000 that Rachel from Accounts plans to borrow to waste will cost an EXTRA £3,000,000,000 in interest

There are c. 1,000,000 Fixed Rate Mortgages maturing every year for the next three years. Typical average rates on these are 3-3.25%.

The new rate that these borrowers will pay is directly linked to Gilts.

I am sure that these borrowers will be overjoyed, especially given that wage growth forecasts have been downgraded (unless they 'work' in the Public Sector of course).
Click to expand...
Still jealous of public sector workers eh?

When did the mortgage rates go sky high? Who was managing the accounts when all these people locked into fixed rates?
George Ferris said:
A

Are you an economist?
Click to expand...
Yes. He's also a forensic psychologist, criminologist, political analyst and immigration specialist. Also quite handy with a bit of copy and paste.
 
Led By Donkeys said:
10 Year Gilt rates have increased 0.75% per annum since September 2024.

As a result the £40,000,000,000 that Rachel from Accounts plans to borrow to waste will cost an EXTRA £3,000,000,000 in interest

There are c. 1,000,000 Fixed Rate Mortgages maturing every year for the next three years. Typical average rates on these are 3-3.25%.

The new rate that these borrowers will pay is directly linked to Gilts.

I am sure that these borrowers will be overjoyed, especially given that wage growth forecasts have been downgraded (unless they 'work' in the Public Sector of course).
Click to expand...
0.75% as a rise is big but a drop in the ocean compared to that which took them to just below the current level over a similar time period in 2022 and was from the lowest point it had been since a dip in January of this year having been falling slightly since July. So, yes, I am sure a reaction to the budget (which I don't agree with) but, still, the current rate appears to be a little below the rate of October of last year and a little over the rate for most of this year so far.
 
buz_not_buzz said:
0.75% as a rise is big but a drop in the ocean compared to that which took them to just below the current level over a similar time period in 2022 and was from the lowest point it had been since a dip in January of this year having been falling slightly since July. So, yes, I am sure a reaction to the budget (which I don't agree with) but, still, the current rate appears to be a little below the rate of October of last year and a little over the rate for most of this year so far.
Click to expand...
You dont agree with the Budget or the market reaction to it?
 
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