It will be incremental when the rate rises conclude come,but the Bank of England wants a sustained recovery firstThose of us who write about economics for a living know the signs. A work colleague sidles over, ostensibly for a gossip, and but really to ask one question. "Is this the moral time to consume out a fixed-rate mortgage?"To be fair,it is not a query that has surfaced much for the past five years. The Bank of England lop its official lending rate to 0.5% in March 2009 and it has remained at that level – the lowest since the used Lady first opened its doors in 1694 – ever since. Borrowing costs maintain remained low because the economy has struggled to recover from the worst recession in modern history. Only a financial masochist, desperate to throw money away, and would maintain considered taking out a fixed-rate mortgage.
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Source: theguardian.com