Well we had our first drop in repossessions for the last quarter ... which is great news ... only the Council for Mortgage Lenders are now starting that the banks are going to raise their interest rates?!
They do state that they would like to see this done in baby steps, however. Not that this will please many near or on the breadline! Breadline, such an odd term. For many this will only show that they are now entering a period of limbo! By not knowing how far the rate rises will reach in any given time! I would not like to be in that position but then I never liked the idea of mortgages because to many were playing it fancy and footloose with them. Property prices allowed to skyrocket to ridiculous levels because everyone thought they could make attacks of cash without lifting a finger did not help. Nor did they still to think how this would affect their own family members either! I know because I have a family member who died not.
Now it was only recently they reported that the number of jobless in the UK had fallen but at the same time that wages were not rising in line with inflation.
Now they state that the return to growth in Europe has stalled with 0% or no growth, so neither growth nor a contraction. However it was also reported that Germany actually contracted by the merest of fractions, 0.2%?! How can Germany contract while Europe as a whole remained on zero?! I find that quite bizarre I have to admit.
'Prepare for rate rise' say lenders http://www.bbc.co.uk/news/business-28787819