The average cost of a two-year fixed-rate mortgage fell to a six-and-a-half-year low during February, according to new figures from the Bank of England.
The average rate stood to 3.88%, down from 3.97% a month earlier to a level last seen in July 2003.
Five-year fixed-rates also eased last month, declining to an average 5.49%, down from [...]
The European Central Bank (ECB) today elected to keep interest rates on hold at the historic low of 1% for the tenth consecutive month, as widely expected.
Interest rates are expected to remain on hold until at least 2011, as a result of uneven growth and low inflation.
ECB President, Jean-Claude Trichet, said: “Overall, the governing council [...]
The Bank of England’s Monetary Policy Committee (MPC) has today elected to keep UK interest rates on hold at the historically low level of 0.5% for the 12th consecutive month.
In addition, it has opted not to inject any more funds into the economy via its quantitative easing (QE) scheme – introduced to stimulate growth [...]
The Bank of England’s Monetary Policy Committee (MPC) is today expected to keep UK interest rates on hold at the historically low level of 0.5% for the 12th consecutive month.
In addition, the Bank is expected not to inject any more money into the economy through its quantitative easing (QE) scheme.
Last month, the Bank announced it [...]
In a round-up of January mortgage lending, Bank of England figures show approvals for house purchases falling 17%, compared to a month earlier.
However, the month-on-month decline takes into account the end of the stamp duty holiday, which resulted in transactions being pushed through in time for December completions, and winter weather conditions that would have [...]
Figures from the Bank of England today revealed that British consumers borrowed £500 million in January through credit cards, loans and overdrafts, once repayments were taken into account – the highest level since November 2008.
According to the Bank, the increase was almost double the £265 million rise seen in the previous month December, and comes [...]