Mortgage rate held for 2010
The Bank Of England have held the mortgage rate at 0.5%.
This rate has been in place since March of last year and is the lowest in recent memory. With the media full of stories about the revival of the financial sector this is unlikely to be changed with all main political parties commencing their election push for summer 2010 the heat will be on to make the finances of the country look as good as possible by the government.
The economy will be the leading vote winner no doubt about it, despite job losses house prices have recovered considerably and consumer confidence is returning.
The phrase ‘quantitative easing’ has entered the public awareness, £200Bn has been added to the UK economy and the opinions are mixed as to whether the impact will sufficient for the money invested. A similiar effort in Japan was judged to be unsuccessful.