Mortgage & Housing Round Up: House prices rise, but mortgage approvals fall

Housing & mortgage round up_istockphotoAn interesting week for housing and mortgage news. We start with the Bank of England’s interest rate announcement, which brought no surprises and then move on to the latest house price figures from the Halifax and some confusing mortgage approvals data. Bank Base Rate on hold Unsurprisingly the Bank of England’s Monetary Policy Committee (MPC) decided to leave base rate on hold at 0.50% for yet another month. With the new Governor, Mark Carney, due to take up his position in July, it appears that the MPC is in ...

Bank of England leaves interest rates unchanged

London_istockDespite speculation that the Bank of England’s Monetary Policy Committee might have considered cutting interest rates, or indeed extend the existing programme of Quantitative Easing (QE), no changes to either were announced when the MPC’s decision was revealed at noon today. Bank base rate has now been on hold at 0.5% for over four years and with a change in Governor imminent, it seems the members of the MPC are not keen to make any significant changes, before Mark Carney takes up his post ...

Savings: Bank of England considers negative interest rates. How would your savings accounts be affected?

Bank of England considers negative interest rates. How would your savings accounts be affectedThe prospect of negative interest rates was raised yesterday by Paul Tucker, a Deputy Governor of the Bank of England. Whilst most experts believe it is unlikely to happen, the thought will understandably send shivers down the spine of those of us with savings accounts. The problems facing savers have been well documented; Bank base rate has been stuck at 0.5% since ...

No surprise as interest rates on hold for another month

No surprise as interest rates on hold for another monthThe Bank of England has decided to keep interest rates on hold for another month and will inject no further money into the economy via Quantitative Easing (QE). Bank base rate has been stuck at 0.5% for nearly four years and with some economists predicting the economy will contract at the start of 2013, raising the possibility of a triple dip recession, any movement in interest rates is highly unlikely in the ...