Nov
5
The Credit Crunch cry Messages are presenting a rather misleading picture of the end of 2008 Mortgage Market. On the promising side, it is correct to say that the prices, which has been cut by some of the leading banks and building societies. But there are two underlying facts that are not so easily put forward. For one thing, the prices are approaching their pre-credit crunch levels (they still have a long way) in front of him but, but nobody ever mentioned that the prime interest rate was 5.75% inAugust 2007, although it is only 5% now. In fact, mortgage rates should be three quarters of a percent lower than before the subprime crisis, before we go on the road for a show of national celebration. Secondly, and more importantly to me, banks are cutting extreme caution in terms of deals it. In reality it is only the ...