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I’d like to know why MPC rate rebel was villain of the week

I always look forward to reading Mortgage Strategy every weekly, particularly Jonathan Cornell’s Marketwatch column, but last week he classed the Monetary Policy Committee’s resident rate rebel Andrew Sentance as his Villain of the Week.

I may be being naive and short sighted but I’d like to know why.

Surely us brokers selfishly want rates to start increasing again, not excessively, but in a manner that would make clients’ more receptive to our calls around discussing their mortgages.

From a business perspective if clients feel the need to review their mortgages it must be a good thing.

I see a slight move upwards in interest rates as a positive step for our livelihoods, or am I wrong?

William Reid,
Reid Financial Consultancy

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My thoughts on the Policy Exchange forecast of Bank Rate at 8% in 2012

No doubt the reason Andrew Lilico, chief economist of Policy Exchange, which calls itself a think tank, chose to issue his paper forecasting Bank Rate would rise to 8% in 2012 this week is that in the August silly season when real political news is thin on the ground it is much easier to grab some headlines by publishing an outrageous forecast than when senior politicians are around to rubbish such forecasts. Policy Exchange must be desperate for some publicity.

Lilico has valid view though at the higher end of the spectrum

In response to Andrew Lilico’s predictions, interest rates are going to increase at some point, it is just a question of what they are going to increase to. Lilico appears to be at the higher end of the spectrum, but as he says, if you put this into historical perspective 8% is not high. I […]

The Mortgage Mole

DIGGING THE DIRT IN THE MORTGAGE WORLD…

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LAST WEEK’S WINNER

“The Mortgage Strategy wage negotiations are getting tougher every year.” RACHAEL WILKINSON

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