interest rate

High loan to value mortgages have reached record levels of popularity at a time when consumer finances are becoming increasingly stretched, according to Spicerhaart Financial Services.

Two in five UK homeowners do not compare all mortgages before taking one out, despite citing interest rates as the most important factor when considering a mortgage, according to Moneysupermarket.com.

Interest rate rises have caused growth in mortgage lending to slow, but the Council of Mortgage Lenders still expects record levels of lending during 2007.

Soaring interest rates are forcing struggling first-time buyers to spend a higher proportion of their income on mortgage interest payments.

A trio of economic reports suggests an increased rate rise from the Bank of England next week is more likely, according to analysts.

Increased stamp duty has made house prices more volatile and reduced property transactions by as much as 500,000, according to research.

Voca, the organisation formerly known as Bacs, which processes some 90% of UK salary payments to bank accounts, says latest figures on average earnings growth in the private sector argue strongly against the Bank of England cutting rates tomorrow.

Members of the Monetary Policy Committee almost voted for an interest rate cut earlier this month, minutes of the meeting show.

The Bank of England has kept its interest rates unchanged for the ninth straight month.

Rising interest rates are not necessarily a strong-enough reason to delay purchasing an annuity because the opportunity cost of delay can often heavily outweigh the marginal benefits of slightly better gross income.