Is base rate likely to rise soon?

Opinion is divided in how soon the Bank of England base rate will rise.

Some experts predict that with the worst of the economic downturn behind us rate rises will kick in very soon, perhaps even within the next couple of months. Other analysts believe that owing to the depth of the recession and the fact that it seems to be taking longer than expected to get the economy back on track, it will take longer for rates to start climbing again.

What goes down must go up. Whichever side of the rate rise fence you are on, one thing is certain – rates will rise. Currently lower than they’ve ever been, there’s only one direction for them to go – UP. It’s not a case of ‘if’ it’s a case of ‘when’.

The dilemma for borrowers is clear – do you act now to take advantage of low rates? Or hold on and risk missing the opportunity to lock into a great low deal?

• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
• 

Posted by admin  On  December 11th, 2009  Permanent link