NLIC.org

Elsie Said:

Do you think mortgage lenders will start to lower their rates with the Bank of England base rate at almost 0!?

We Answered:

With the base rate at zero, there's a limit to the controls on inflation. Lenders will lower rates (which tends to increase money supply) if they feel confident that their lending will be secure, and if they can find no better way to invest capital. They'll raise the rates, on the other hand, if equities are a better play, or if they don't trust their borrowers. Whatever the case, the conditions are bound to change -- whatever's up will go down, and what's down will eventually go up again. The biggest challenge is to figure out what's up!

Andy Said:

Our offer is accepted and we are in escrow. How do I shop around for mortgage rates?

We Answered:

These are questions that should have been asked and answered BEFORE you start looking for a house.