“Borrowers have been expecting rates to rise this year as surely as they expect the sun to rise tomorrow, and have budgeted for it. Rates remain historically low, and mortgage repayments still well within normal affordability levels. Therefore we do not anticipate any major changes to either levels of activity in the mortgage market or house prices.”
Peter Brodnicki, Chief Executive, Mortgage Advice Bureau, commented on today’s base rate rise:
“Borrowers have been expecting rates to rise this year as surely as they expect the sun to rise tomorrow, and have budgeted for it. Rates remain historically low, and mortgage repayments still well within normal affordability levels. Therefore we do not anticipate any major changes to either levels of activity in the mortgage market or house prices.”
