Housing Data Indicates Unchanging Interest Rates

housing industryAn article published in The Adviser talks about the potent mix of ‘spending cuts’ and present housing data; a combination which is sure to keep the interest rates pretty low for some time to come.

The market, argues the article, is stabilising and this augurs well for the existing climate of low interest rates. Finance commitments for dwellings have shot up by 19% compared to March last year; with owner occupiers’ share increasing by 11.8% and investors’ share shooting up by 32.1% over the same time-frame. This said, the commitments when compared with February 2014 have mellowed down a little on all fronts.

Need for established houses and new ones have both seen an upward curve since last year. To reiterate, this is good news for all of us expecting the rates to stay where they are.

You can read the original article here.

What do you make of the fluctuation in the fixed rates?