[Finance] Do you personally want interest rates (the base rate) to go up, down or stay the same?

[HeaviestTed]

Whilst you are correct bout fairness and favouritism, do you think it was ever any different?

It was probably fair sometime before the Greeks created democracy for about 4 weeks.

 

[Garage_Doors]

Quite annoyed that we changed our cash ISA to an ethical stocks and shares ISA to 'make our money work harder' the week before Putin invaded Ukraine. Since then interest rates on what would have been our old ISA have gone up, and the stocks and shares ISA has plummeted.

So, personally, I'd like interest rates to drop so that I don't feel so bad about our decision!!

Feel for you, we had the same, lost quite a few k's before reverting them to Cash ISA.
Interest rate up for me.
Never been lucky with interest rates, remember having a mortgage when the rates were as high as 15% at one point if memory serves me right.

 

[hans kraay fan club]

Down please (but alongside a drop in inflation, so the cash value of my modest savings isn't eroded TOO much!)

Up, would benefit me personally, thanks very much - but that would be little consolation to my two 20-something offspring, or all my friends and workmates who are not in the same (hard-earned) financial position.

 

[Official Old Man]

I paid off my mortgage about 4 years ago having overpaid for a few years. Now I've savings that are paying me nice sums of money.
Feel for my Daughter who is coming off a low rate shortly and her rates will shoot up.

 

[hans kraay fan club]

I paid off my mortgage about 4 years ago having overpaid for a few years. Now I've savings that are paying me nice sums of money.

Feel for my Daughter who is coming off a low rate shortly and her rates will shoot up.

We all know where this is heading...!

 

[Uncle Spielberg]

Down to a manageable 4%. 14 increases in a row without waiting to see effects has caused huge issues. The mortgage and property market is on it's knees

 

[AK74]

Rates will be back to 4.5% by the end of 2024.

 

[beorhthelm]

inflation down to 4.6%, below interest rates. give BoE leeway to hold or cut, though will probably follow US in that.

 

[BBassic]

I've got some savings and another 20 - 25 years to go on a mortgage so f**k knows.

Ideally I'd want to be able to pay the mortgage off as quickly as possible so anything that helps me do that would be my preference. Especially as my current deal is up in November April and I'm pretty sure we're going to get dicked by our new rate.

 

[trueblue]

Up would suit my personal circumstances, but I like to think I'm not a **** so down would be better and help out those who are really struggling.

 

[Oscar]

Our mortgage deal ends in March so we're looking at a nasty rise in payments. Given predictions, I guess it's not worth locking in for more than a year is it?

 

[Normal Rob]

My mortgage rate increase over summer is the equivalent cost of buying a new boiler every 3 months. Given that i'm locked in for 3 years, i wouldn't mind if they held for 2 years before falling. I'll be crying every month for the duration of the term if they fall significantly now.

 

[sparkie]

Where is the option for "It is what it is" ?

 

[spongy]

My current mortgage deal expires on Jan 1st. It's going to go up about £400 a month.

Had the surveyor round this morning for the new one. If they go down again once I sign I'm going to be royally pissed.

I'm skint enough as it is without the rise I'm looking at thanks.

Only 25 years to go

 

[Tim Over Whelmed]

Whilst, personally, I'd like them to stay high I've clicked go down because I know how difficult these rates are for younger people.

 

[scooter1]

We have a long term low rate fixed mortgage and a little savings, but i'd like them to go down to try and stabilise the economy, and help those who are struggling because of higher rates

 

[Ding Dong !]

For my children with mortgages......down

For me .........(savings & no mortgage ).......up

 

[levs]

Mortgage up for renewal in a little over a year, could do with them coming down between now and then as budgets are already pretty tight

 

[Mustafa II]

Zero insight from the OP why he posted this thread in the first place.

It's increasingly looking like not only have we seen the last of the increases of the base rate, but it could even go down sooner than predicted.

For me, I have just been approved for a 5.49% remortgage, up from 1.9%... however it doesn't start until March '24, so I still have a bit of time to back out should mortgage rates fall, which could happen if I'm correct with my base rate predictions.

I am lucky to have decent savings and not owe a huge amount on the mortgage, so I'm fine with them staying the same. Would love to see them go down before March though...

 

[Paulie Gualtieri]

Well having recently taken a 5 year fix (3.91%) up from 1.73% I am £360 a month worse off so the **** in me would want to win and see interest rates dip to 3.92% at best for the next 5 years.

However having an appreciation of the wider impact on the base rate to everything else I hope it goes down.