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  The Chatter Box : Blathering On
Messages 1 2 

Re: 0% interest rate by mrsthing on 18 December 2008 2:01pm
Unfortunately the rate cut only affects the interest charged by banks that lend to other banks. But there's lots of speculation that consumer loan interest rates will fall, too.
Re: 0% interest rate by bIG bLOGGER on 18 December 2008 3:44pm
In England,the Bank Of England interest rate has been cut down drastically to 2%,and some economists are predicting it could be slashed even lower.It doesn't look too good for those trying to save.

ginnyp:on the subject of the works of Charles Dickens,if you have Great Expectations for your autobiography,I'd be willing to offer my services as a ghostwriter,to summon up the ghost of Christmasses past. lol.
Re: 0% interest rate by Lounge Trekker on 18 December 2008 5:14pm
The Bank of Canada factors the American response to economics and has dropped it's rate several times lately. My mortgage rate has been lowered appropriately after a few weeks's delay.

The lender has made changes though. Variable rate mortgages are now prime + .8% up from .75. I just hope this increase will reduce the chances of them going under forcing me into further action.

Lounge Homeowner
Re: 0% interest rate by geordiegirl on 18 December 2008 9:59pm
Yes I hope so too, Pete. few of us seem to be unaffected by these chill winds.
Re: 0% interest rate by mrsthing on 19 December 2008 11:07pm
Oh, that's great, Pete! I had heard it was not going to be very helpful for mortgages or personal loans. I've got a fixed rate mortgage, pay off my credit cards monthly, and have no other debt, so I wouldn't notice.
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