03 Sep 2024 Cheltenham
Rightmove reports Bank of England rate cut spurs home moving…
In 1957, interest rates jumped significantly meaning mortgage rates were 7.5%. If you waited for interest rates to go down to what they were 18 months before, you wouln’t have purchased a home until 2008.
You would have rented for 51 years waiting for rates to go down. Meanwhile the value of property increased by 9.351% (that is not a typo)
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Credit Christopher Watkin
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