Co-ordinated 0.5% rate cut

[kerrynorth]

ECB, FED, BOE, Swiss and Canadian Central Banks have cut interest rates by 0.5%.

[hiding behind a poster]

I've a tracker mortgage - linked to the ECB rate. Yee-haa!!!

[floatingingalway]

A family that preys together, stays together

[seabhcan]

If they'd done this 2 weeks ago it would have worked. Now, I don't know.

[floatingingalway]

It looks to me like it had as much an effect as a sneeze!

[Victor Meldrew]

ECB, FED, BOE, Swiss and Canadian Central Banks have cut interest rates by 0.5%.

Link??

Please say this gets passed on quick. and get's followed with another drop soon

Actually this would have been better after the budget. now we'll win on the mortgage and loose even more in the paycheck

[kerrynorth]

Link??

Please say this gets passed on quick. and get's followed with another drop soon

Actually this would have been better after the budget. now we'll win on the mortgage and loose even more in the paycheck

If you have a tracker mortgage or loan then it is passed on automatically. However, if you are on a standard variable mortgage etc you can be damn sure only a portion of it will be passed on.

ECB, Fed and other central banks cut interest rates - The Irish Times - Wed, Oct 08, 2008

[wysiwyg]

Excellent... tracker mortgages rock!!!!!!!!!!

[The Red Rose of Cork]

Highly unlikely that people on variable mortgages will see any benefit. It will primarily assist banks in accessing funds on the money markets and providing themselves with a margin again

[wysiwyg]

Highly unlikely that people on variable mortgages will see any benefit. It will primarily assist banks in accessing funds and on the money markets and providing themselves with a margin again

Yeah, that's the biggest disgrace of all this... it won't be passed on to variable mortgage holders.. the banks will get to access credit cheaper, but will still screw their own customers