Friday 4th July 2008
Interest Rates Cut To 5.25%
08/02/08
Boxall Brown & Jones are pleased to report that the bank interest rate has today been cut, helping to boost the local property market. Homeowners have received a much-needed lift after Bank of England policymakers cut interest rates for the second time in three months.
The Bank's nine-strong Monetary Policy Committee (MPC) voted to trim rates by a quarter-point to 5.25% amid growing signs of a slowdown in the economy and a cooling housing market.
The decision to shave rates will reduce monthly repayments on a typical £100,000 mortgage by around £16 a month and those with a home loan of £250,000, will see around £40 knocked off their monthly repayments.
Good News For The Property Market
NAEA Members report a stable market but continue to urge the government to ease the pressure.
Chris Rises To The Top
City estate agent is elected President of National Association.
Home Information Pack Update
Do Not Hesitate
Fantastic! Last week for the first time in months, the press relented. The Daily Mail ran a front page headline “House Prices won’t crash”. A housing economist had at last issued a correct analysis of the true relationship of Demand, Supply and Price.
