Genie Posted July 19, 2023 Share Posted July 19, 2023 (edited) 9 minutes ago, The Fun Factory said: I am currently basking in paying 10p less for my milk. That will offset my impending mortgage hike. Exactly, last week BoE stated 1 million people would soon be paying £500 or more on their mortgages per month. That bombshell isn’t going away because petrol came down 10p a litre. Hopefully if inflation comes down to 2-3% there will be a temptation to reduce the base rate of interest a bit to get the economy out of the slump. It won’t be going <1% off a very long time but 2-3% might be possible. Edited July 19, 2023 by Genie Link to comment Share on other sites More sharing options...
The Fun Factory Posted July 19, 2023 Share Posted July 19, 2023 8 minutes ago, Genie said: Exactly, last week BoE stated 1 million people would soon be paying £500 or more on their mortgages per month. That bombshell isn’t going away because petrol came down 10p a litre. Hopefully if inflation comes down to 2-3% there will be a temptation to reduce the base rate of interest a bit to get the economy out of the slump. It won’t be going <1% off a very long time but 2-3% might be possible. And how long will that take for mortgage brokers to pass down methinks? Link to comment Share on other sites More sharing options...
Genie Posted July 19, 2023 Share Posted July 19, 2023 7 minutes ago, The Fun Factory said: And how long will that take for mortgage brokers to pass down methinks? I think there’s more competition in that market than general banking savings rates so there should be better deals around quite quickly. Link to comment Share on other sites More sharing options...
sidcow Posted July 19, 2023 VT Supporter Share Posted July 19, 2023 11 minutes ago, The Fun Factory said: And how long will that take for mortgage brokers to pass down methinks? Mortgage brokers will pass that on IMMEDIATELY the mortgage providers make them available. It's literally how they make a living. Link to comment Share on other sites More sharing options...
Villatillidie95 Posted July 19, 2023 Share Posted July 19, 2023 its pretty mad seeing the rises in monthly payments some mortgage holders are going to be paying, 700 extra per month seems to be expected for those coming of their fix. I'm gonna be fine luckily as i took out my mortgage in december last year and only paying £566 per month for my flat and took it for 5 years, the scary thing is mine was from a non high street provider at 4.19%, that was seen as a 'high" rate back then, the normal rates were at 3.49%. now even the high street providers are above 6.5%. gonna be tough for those who borrowed in the 0% days especially if their salaries havent gone up, so much money that would go into the economy in normal times is gonna be used to pay towards mortgages, recession incoming Link to comment Share on other sites More sharing options...
Demitri_C Posted July 19, 2023 Share Posted July 19, 2023 10 hours ago, The Fun Factory said: I am currently basking in paying 10p less for my milk. That will offset my impending mortgage hike. Go food shopping in cyprus if you think here is expensive. Jesus its **** ridiculous there Link to comment Share on other sites More sharing options...
Popular Post ml1dch Posted July 20, 2023 Popular Post Share Posted July 20, 2023 (edited) Starting to see Sunak's point about how people need to be better at maths. Edited July 20, 2023 by ml1dch 4 1 Link to comment Share on other sites More sharing options...
Guest Posted July 20, 2023 Share Posted July 20, 2023 Is this Hunt of a person hoping for deflation? 2 out of 3 news items on Daily Express is actual turd. The other item is a bit of sport Link to comment Share on other sites More sharing options...
markavfc40 Posted July 20, 2023 Share Posted July 20, 2023 The one pledge Sunak might actually achieve (even though the government will have had pretty much f all to do with it) if inflation halves to around 5% by the end of the year is going to fall well short of expectations as a lot of people expect that to mean prices will fall and not just rise by less than they have been. It is a lovely bit of karma given he wanted to take credit for something he has little control over. 1 Link to comment Share on other sites More sharing options...
Hobsons Choice Posted July 20, 2023 VT Supporter Share Posted July 20, 2023 2 hours ago, ml1dch said: Starting to see Sunak's point about how people need to be better at maths. The know inflation is still >8%, right? Prices are still rising, but slightly less fast. Costs are still rising by more than (aside from this year) they have since 1982. Either they are idiots, or they know their readership are idiots. Link to comment Share on other sites More sharing options...
Genie Posted July 20, 2023 Share Posted July 20, 2023 1 minute ago, HKP90 said: The know inflation is still >8%, right? Prices are still rising, but slightly less fast. Costs are still rising by more than (aside from this year) they have since 1982. Either they are idiots, or they know their readership are idiots. I genuinely think the majority of people think that reducing inflation means reducing prices. 1 Link to comment Share on other sites More sharing options...
ml1dch Posted July 20, 2023 Share Posted July 20, 2023 (edited) 1 minute ago, Genie said: I genuinely think the majority of people think that reducing inflation means reducing prices. Not quite a majority, but a plurality - as per the survey shown in that other Tweet. Edited July 20, 2023 by ml1dch Link to comment Share on other sites More sharing options...
Genie Posted July 20, 2023 Share Posted July 20, 2023 1 minute ago, ml1dch said: Not quite a majority, but a plurality - as per the survey shown in that other Tweet. Tbh that question and the options are quite confusing. I’m not surprised the results are a mess. Link to comment Share on other sites More sharing options...
bickster Posted July 20, 2023 Moderator Share Posted July 20, 2023 11 minutes ago, Genie said: Tbh that question and the options are quite confusing. I’m not surprised the results are a mess. Are they? Seems quite straightforward to me Link to comment Share on other sites More sharing options...
Seat68 Posted July 20, 2023 Share Posted July 20, 2023 I think the question is set out to see if people understand inflation, and what happens if inflation goes down, nothing more as far as I can see. 1 Link to comment Share on other sites More sharing options...
Genie Posted July 20, 2023 Share Posted July 20, 2023 18 minutes ago, bickster said: Are they? Seems quite straightforward to me I think it could be clearer. For example they mention prices next year, when next year? It probably means January but doesn’t say specifically. It just says next year. Maybe it’ll go negative like some are concerned about in the US. Also, the inflation number for January ‘24 will be based off whatever the figure was in January ‘23, not what the price is now in July ‘23. Inflation could go up between December ‘23 and January ‘24 but still be lower than todays inflation figure. I know what the simple answer is but they are putting together different bits of data from different places hence the potential for confusion. Link to comment Share on other sites More sharing options...
Genie Posted July 20, 2023 Share Posted July 20, 2023 14 minutes ago, Seat68 said: I think the question is set out to see if people understand inflation, and what happens if inflation goes down, nothing more as far as I can see. I agree, they could have made it a simpler test though and we’d have seen a much clearer snapshot of how many people understand how inflation works. Link to comment Share on other sites More sharing options...
Stevo985 Posted July 20, 2023 VT Supporter Share Posted July 20, 2023 1 hour ago, Genie said: I genuinely think the majority of people think that reducing inflation means reducing prices. I don't know about majority, but it's definitely a mistake that's often made. Someone on this very forum made the mistake in another thread that if the NHS got a payrise that was higher than inflation after inflation falls then their pay would have gone up more. But yeah I've heard plenty of people talk about prices going down. Some prices will go down, but not because inflation has dropped 1 Link to comment Share on other sites More sharing options...
markavfc40 Posted July 20, 2023 Share Posted July 20, 2023 It is not rocket science in fairness is it. 1 Link to comment Share on other sites More sharing options...
Genie Posted July 26, 2023 Share Posted July 26, 2023 Parking at Taylor Swift concert 1 3 Link to comment Share on other sites More sharing options...
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