Adrian Black delivers critical property market insights and the influences, behaviour and money driving them.
I’ve been wondering about this very matter recently. Each week more offers appear. 10 year fixed rates for 2.79%; 2 year fixed rates for 1.18%.
This is certainly good for the housing market. Also, it is a sign that the effects of quantitative easing are finally becoming available to consumers - it has taken some time !
Yes the mortgages are for low loan to value loans but it might encourage consumers who are able to offer a large amount of security to borrow - which in turn will help, at least in the short term, the economy.
A trend to watch with great interest.