Where is the mortgage market heading?
Numerous financial services experts are formerly anticipating
big mortgage market turmoil, subsequent cataclysm in financial
markets right through the globe. Homeowners who are currently
in adverse credit division of the mortgage market in specific,
a firm increase in interest rate repayments could be in the channel.
The poor credit or adverse mortgage market has been completely
affected by recent events in USA. That area, the sub-prime mortgage
market has bowed leaving many borrowers in complexity. The Fixed-rate
mortgage loans are expected to stay one of the few mortgage types
which are adapting to become cheaper in the future.
Geoffrey Dicks, UK economist at the Royal Bank of Scotland commented
on the programme Money Box Radio 4, the mortgage rates are expected
to carry on increasing. The reportedly said: "One thing certain
that will come out of this financial turmoil, is that the general
level of mortgage rates - and other interest rates for that matter
- will be higher relative to the Bank of England's official base
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