MORTGAGE UPDATE: the base rate guessing game
The latest report from a leading economic think tank claims the Bank Base Rate will stay at 0.5% until 2014, while the government's own Office for Budgetary Responsibility suggests that rates may rise next year.
Meanwhile, one member of the Monetary Policy Committee insisting that rates need to rise now.
Welcome to the wonderful world of economic forecasting.
With all these contradictory forecasts around, it is no wonder that borrowers are struggling to know what to think. Trying to call the future, as many do, can often work out to be more than a little painful and what is good now for one person, may not be in a year or so.
Source: The Negotiator
