Thursday, November 6, 2008

What a Rate!

The Bank of England today announced 1.5% off base rate down to 3% and that's the lowest since before I was born in 1957!! I have never seen a graph of base rates that looks like this and I only hope that the High Street banks and Building Societies now feel able to pass on some of this cut, but it will depend on the rates at which they lend money to each other.

Thinking out loud maybe people should think about investing in property now that borrowing is getting cheaper and houses are all such good value!

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