Base rate stays at 0.5%.. again! |
The nine members of the Bank of England’s Monetary Policy Committee, which decides the base rate, have made their votes for December, and the rate will be kept at 0.5% for the 21st month in a row! Recent voting results would point to the rate staying at 0.5% for the foreseeable future since only 1 member voted for a rise in the rate.
As always though, despite the low base rate, mortgage rates are still several percentage points higher, and mortgages are still relatively difficult to obtain – even for those with a spotless credit rating.
