Emeritus Prof Christopher May on Nostr: nprofile1q…h9exn Well, I think you are right that historically interest rates ...
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Well, I think you are right that historically interest rates remain low, but the long experience of ultra-low rates makes the current rates look (and in repayment terms exhibit) a relatively high level; given that we have high house prices right now, the interest rate issue seems less important than the eligibility issue; as has been pointed out in my time line a few times, if it was made illegal to offer more than 3x salary mortgages prices would (relatively quickly) start to fall
Well, I think you are right that historically interest rates remain low, but the long experience of ultra-low rates makes the current rates look (and in repayment terms exhibit) a relatively high level; given that we have high house prices right now, the interest rate issue seems less important than the eligibility issue; as has been pointed out in my time line a few times, if it was made illegal to offer more than 3x salary mortgages prices would (relatively quickly) start to fall