CHAMB
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December 2006
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Credit crunch, credit crunch, credit crunch, by CHAMB on Dec 18, 2007 19:51:45 GMT 1, I live in the US, you can see it starting to have some affect in various cities, bank repo'd homes, etc.
I live in the US, you can see it starting to have some affect in various cities, bank repo'd homes, etc.
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ray
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June 2007
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Credit crunch, credit crunch, credit crunch, by ray on Dec 18, 2007 20:12:58 GMT 1, true, & has'nt the uk's personal debt risen fron 1 trillion to 1.5 trillion in the last ten years?
Yes, but it's not their fault
true, & has'nt the uk's personal debt risen fron 1 trillion to 1.5 trillion in the last ten years? Yes, but it's not their fault
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Credit crunch, credit crunch, credit crunch, by corblimeylimey on Dec 18, 2007 20:17:06 GMT 1, MM in complaining about posts about credit crunch, doom & depression, you've created another monster thread all about it ;D
MM in complaining about posts about credit crunch, doom & depression, you've created another monster thread all about it ;D
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BONGO
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February 2007
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Credit crunch, credit crunch, credit crunch, by BONGO on Dec 18, 2007 20:27:39 GMT 1, BONGO THINKS GREED AND FEAR ARE BASE MOTIVATORS FOR HUMAN BEHAVIOR IN ALL ITS SPHERES
BONGO THINKS GREED AND FEAR ARE BASE MOTIVATORS FOR HUMAN BEHAVIOR IN ALL ITS SPHERES
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jcjcjc
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October 2007
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Credit crunch, credit crunch, credit crunch, by jcjcjc on Dec 18, 2007 21:29:59 GMT 1, Bottom line is we are all in for a much tougher 2008, certainly in the western world. Chinese factories which used to need to export have found that in recent months, domestic demand is soaking up capacity. This in turn creates yet another problem for the western economies as the cheap goods keeping inflation down are suddenly not so cheap. It creates a possible nightmare senario of low domestic growth coupled with high inflation. This in turn puts more upward pressure on interest rates which just creates a negative spiral. Don't care how much money you have or how much you think you are cushioned, if you live and work in US or UK, we are all going to feel the chill from this one within 3-6 months.
Bottom line is we are all in for a much tougher 2008, certainly in the western world. Chinese factories which used to need to export have found that in recent months, domestic demand is soaking up capacity. This in turn creates yet another problem for the western economies as the cheap goods keeping inflation down are suddenly not so cheap. It creates a possible nightmare senario of low domestic growth coupled with high inflation. This in turn puts more upward pressure on interest rates which just creates a negative spiral. Don't care how much money you have or how much you think you are cushioned, if you live and work in US or UK, we are all going to feel the chill from this one within 3-6 months.
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loucastel
Junior Member
Posts โข 1,551
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October 2007
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Credit crunch, credit crunch, credit crunch, by loucastel on Dec 18, 2007 21:35:22 GMT 1, The footsie 100 can be chugging along quite nicely, come 1 o'clock gmt the US markets open and wham, if America sneezes we catch cold, the world currency should be the Yen, lol
The footsie 100 can be chugging along quite nicely, come 1 o'clock gmt the US markets open and wham, if America sneezes we catch cold, the world currency should be the Yen, lol
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mike hunt
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December 2006
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Credit crunch, credit crunch, credit crunch, by mike hunt on Dec 18, 2007 22:01:52 GMT 1, I think the housing situation in the UK is different. Demand still outstrips supply and people always need a roof over their head. Due to tax breaks (amongst other things), the worlds rich live in london and the money filters down. When things are good, the media play it up and when they correct, they play it down - it sells papers. People seem to have less cash in their pockets, but IMO the only thing that will really mess the UK up is a big nasty surprise that we can't predict. Don't get me wrong, things need to correct, but that is different to a crash.
I think the housing situation in the UK is different. Demand still outstrips supply and people always need a roof over their head. Due to tax breaks (amongst other things), the worlds rich live in london and the money filters down. When things are good, the media play it up and when they correct, they play it down - it sells papers. People seem to have less cash in their pockets, but IMO the only thing that will really mess the UK up is a big nasty surprise that we can't predict. Don't get me wrong, things need to correct, but that is different to a crash.
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ray
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Posts โข 388
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June 2007
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Credit crunch, credit crunch, credit crunch, by ray on Dec 19, 2007 0:52:31 GMT 1, The footsie 100 can be chugging along quite nicely, come 1 o'clock gmt the US markets open and wham, if America sneezes we catch cold, the world currency should be the Yen, lol
It will the Euro in short order.
The footsie 100 can be chugging along quite nicely, come 1 o'clock gmt the US markets open and wham, if America sneezes we catch cold, the world currency should be the Yen, lol It will the Euro in short order.
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Francis
Junior Member
Posts โข 2,571
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September 2007
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Credit crunch, credit crunch, credit crunch, by Francis on Dec 19, 2007 1:52:16 GMT 1, The credit crunch fears are a scam!
The credit crunch fears are a scam!
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dmandpenfold
Junior Member
Posts โข 2,466
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December 2006
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Credit crunch, credit crunch, credit crunch, by dmandpenfold on Dec 19, 2007 2:05:53 GMT 1, The credit crunch fears are a scam!
just like the millenium bug....priceless that one, IT made a killing on the fear generated by the media pre 2000
The credit crunch fears are a scam! just like the millenium bug....priceless that one, IT made a killing on the fear generated by the media pre 2000
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hols081
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Posts โข 6
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December 2007
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Credit crunch, credit crunch, credit crunch, by a4mnt on Dec 19, 2007 7:42:59 GMT 1, So according to the gospel of Manchestermike, if we say something enough, it happens.
Well here goes :
SEX RAY, SEX RAY, SEX RAY.
Wicked, I'm going to drive to Gravesend now and see what happens.
;D
So according to the gospel of Manchestermike, if we say something enough, it happens.
Well here goes :
SEX RAY, SEX RAY, SEX RAY.
Wicked, I'm going to drive to Gravesend now and see what happens.
;D
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Francis
Junior Member
Posts โข 2,571
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September 2007
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Credit crunch, credit crunch, credit crunch, by Francis on Dec 19, 2007 9:42:29 GMT 1, So according to the gospel of Manchestermike, if we say something enough, it happens. Well here goes : SEX RAY, SEX RAY, SEX RAY. Wicked, I'm going to drive to Gravesend now and see what happens. ;D
Who is Ray and why do you want to sex the bloke?
So according to the gospel of Manchestermike, if we say something enough, it happens. Well here goes : SEX RAY, SEX RAY, SEX RAY. Wicked, I'm going to drive to Gravesend now and see what happens. ;D Who is Ray and why do you want to sex the bloke?
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Suit
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Posts โข 61
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August 2007
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Credit crunch, credit crunch, credit crunch, by Suit on Dec 19, 2007 10:42:21 GMT 1, Unfortunately, while the โcredit crunchโ had its roots in the US sub prime market its effects are now far more widespread and certainly not restricted to the housing market, mortgage market or the US.
As every major bank in the world has taken a hit as a result of write offs in the US housing market and their balance sheets no longer look as healthy as they were looking. As a result of this they can no longer justify the riskier end of loans they have been providing (home mortgages are just a very small part of this) and have to balance this off by charging higher rates.
The main fall out is the M&A market which in buoyant times (which we are still in despite all the negative press) helps keep the markets moving, keeping stock prices inflated, pensions in a healthy position etc etc. Now the main banks are reluctant to lend at the low rates they were lending at means that stock prices have to fall to counter the increased cost of borrowing. This then has a knock on effect when banks etc start shedding staff, people stop spending and so on and so on.
We are not in a recession at this point but the credit markets are a good indicator of what may come and the most worrying element is not the housing market as the press keep saying but the corporate market that pay most of our wages!
Unfortunately, while the โcredit crunchโ had its roots in the US sub prime market its effects are now far more widespread and certainly not restricted to the housing market, mortgage market or the US.
As every major bank in the world has taken a hit as a result of write offs in the US housing market and their balance sheets no longer look as healthy as they were looking. As a result of this they can no longer justify the riskier end of loans they have been providing (home mortgages are just a very small part of this) and have to balance this off by charging higher rates.
The main fall out is the M&A market which in buoyant times (which we are still in despite all the negative press) helps keep the markets moving, keeping stock prices inflated, pensions in a healthy position etc etc. Now the main banks are reluctant to lend at the low rates they were lending at means that stock prices have to fall to counter the increased cost of borrowing. This then has a knock on effect when banks etc start shedding staff, people stop spending and so on and so on.
We are not in a recession at this point but the credit markets are a good indicator of what may come and the most worrying element is not the housing market as the press keep saying but the corporate market that pay most of our wages!
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phoenixlune
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December 2007
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Credit crunch, credit crunch, credit crunch, by phoenixlune on Dec 19, 2007 14:36:12 GMT 1, Everyone who has bought shit loads at this Shit SG are screwed in the New Year!!!! Doom and Gloom is coming!!!!!
Everyone who has bought shit loads at this Shit SG are screwed in the New Year!!!! Doom and Gloom is coming!!!!!
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Credit crunch, credit crunch, credit crunch, by a4mnt on Dec 19, 2007 14:36:20 GMT 1, So according to the gospel of Manchestermike, if we say something enough, it happens. Well here goes : SEX RAY, SEX RAY, SEX RAY. Wicked, I'm going to drive to Gravesend now and see what happens. ;D
Fucking useless Sex Ray.
My car broke down, thats what happened. No prints for me for ages now
So according to the gospel of Manchestermike, if we say something enough, it happens. Well here goes : SEX RAY, SEX RAY, SEX RAY. Wicked, I'm going to drive to Gravesend now and see what happens. ;D F ucking useless Sex Ray. My car broke down, thats what happened. No prints for me for ages now
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Credit crunch, credit crunch, credit crunch, by daz205 on Dec 19, 2007 14:53:13 GMT 1, Ray didnt come out to fix it for you then?
Ray didnt come out to fix it for you then?
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ray
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Posts โข 388
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June 2007
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Credit crunch, credit crunch, credit crunch, by ray on Dec 19, 2007 14:55:06 GMT 1, So according to the gospel of Manchestermike, if we say something enough, it happens. Well here goes : SEX RAY, SEX RAY, SEX RAY. Wicked, I'm going to drive to Gravesend now and see what happens. ;D Who is Ray and why do you want to sex the bloke?
I'm Ray. I'll need dinner and drinks first. Maybe a small gift.
So according to the gospel of Manchestermike, if we say something enough, it happens. Well here goes : SEX RAY, SEX RAY, SEX RAY. Wicked, I'm going to drive to Gravesend now and see what happens. ;D Who is Ray and why do you want to sex the bloke? I'm Ray. I'll need dinner and drinks first. Maybe a small gift.
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patrese
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Posts โข 233
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July 2007
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Credit crunch, credit crunch, credit crunch, by patrese on Dec 19, 2007 15:30:35 GMT 1, Credit crunch, credit crunch, credit crunch... Candyman, Candyman, Candyman... For f**ks sake... are people on here hoping if they say something enough it will happen in the UK? Judging by the amount of times the f**king thing is mentioned! This "credit crunch" is a US phenomenon due to the issues with sub-prime mortgages. Twenty or even ten years ago these sort of problems in the US would have had a massive affect on the UK markets. However now the World economy is totally different, it is not so reliant on the US and the distribution of worldwide wealth is much higher. I seriously think although there will be some affect on the UK it won't be anything like what some naysayers are predicting... I actually think the UK will come out of this relatively unscathed. But you never know people, if you wish for something enough it may happen, the reason things like this have a knock on affect in other countries is panic. That's all, nothing else, so don't panic, forget about it and get on with your lives as normal. Yes it's a problem in the US, but without being too blunt - let them deal with it - don't let it affect you as it has no need to...
there are some fairly serious knock on effects here...for example job losses in the financial sector, secondly if you are coming off a fixed rate mortgage deal you are in for a bit of a shock trying to get a decent rate now, ie not possible, and some may argue house prices falling as a result now too - which may not be a bad thing per se, as long as it doesn't spiral down like it has in the US, in which case we are on for a full blown recession.
other than that, no knock on effects
Credit crunch, credit crunch, credit crunch... Candyman, Candyman, Candyman... For f**ks sake... are people on here hoping if they say something enough it will happen in the UK? Judging by the amount of times the f**king thing is mentioned! This "credit crunch" is a US phenomenon due to the issues with sub-prime mortgages. Twenty or even ten years ago these sort of problems in the US would have had a massive affect on the UK markets. However now the World economy is totally different, it is not so reliant on the US and the distribution of worldwide wealth is much higher. I seriously think although there will be some affect on the UK it won't be anything like what some naysayers are predicting... I actually think the UK will come out of this relatively unscathed. But you never know people, if you wish for something enough it may happen, the reason things like this have a knock on affect in other countries is panic. That's all, nothing else, so don't panic, forget about it and get on with your lives as normal. Yes it's a problem in the US, but without being too blunt - let them deal with it - don't let it affect you as it has no need to... there are some fairly serious knock on effects here...for example job losses in the financial sector, secondly if you are coming off a fixed rate mortgage deal you are in for a bit of a shock trying to get a decent rate now, ie not possible, and some may argue house prices falling as a result now too - which may not be a bad thing per se, as long as it doesn't spiral down like it has in the US, in which case we are on for a full blown recession. other than that, no knock on effects
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Credit crunch, credit crunch, credit crunch, by corblimeylimey on Dec 19, 2007 17:44:41 GMT 1, I've lived through a few recessions, it ain't that bad, the sky hasn't fallen down, life goes on.
Half my mortgage is fixed for a further 9 years, the other half is up for renewal in April, I think interest rates will fall further than the 0.25% from last month by then.
I've lived through a few recessions, it ain't that bad, the sky hasn't fallen down, life goes on.
Half my mortgage is fixed for a further 9 years, the other half is up for renewal in April, I think interest rates will fall further than the 0.25% from last month by then.
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Avian Security
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November 2007
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Credit crunch, credit crunch, credit crunch, by Avian Security on Dec 19, 2007 17:50:18 GMT 1,
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angryboy
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Posts โข 366
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October 2007
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Credit crunch, credit crunch, credit crunch, by angryboy on Dec 19, 2007 17:53:31 GMT 1, I've lived through a few recessions, it ain't that bad, the sky hasn't fallen down, life goes on. Half my mortgage is fixed for a further 9 years, the other half is up for renewal in April, I think interest rates will fall further than the 0.25% from last month by then.
Aye, the base rate will go down but the fall will probably me equalled by a rise in the premium the mortgage company wacks on top.
You must be getting on a bit to live few a few. We've only had 5 recessions since 1920 and 2 of those occured before 1932. Admittedly I'm assuming you're in the UK with those figures.
I've lived through a few recessions, it ain't that bad, the sky hasn't fallen down, life goes on. Half my mortgage is fixed for a further 9 years, the other half is up for renewal in April, I think interest rates will fall further than the 0.25% from last month by then. Aye, the base rate will go down but the fall will probably me equalled by a rise in the premium the mortgage company wacks on top. You must be getting on a bit to live few a few. We've only had 5 recessions since 1920 and 2 of those occured before 1932. Admittedly I'm assuming you're in the UK with those figures.
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Avian Security
Artist
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Posts โข 495
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November 2007
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Credit crunch, credit crunch, credit crunch, by Avian Security on Dec 19, 2007 17:54:22 GMT 1,
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ray
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Posts โข 388
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June 2007
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Credit crunch, credit crunch, credit crunch, by ray on Dec 19, 2007 18:00:12 GMT 1, I've lived through a few recessions, it ain't that bad, the sky hasn't fallen down, life goes on. Half my mortgage is fixed for a further 9 years, the other half is up for renewal in April, I think interest rates will fall further than the 0.25% from last month by then.
Just wondering, around half of our home adjustable rates over here (US) use the LIBOR (London Interbank Offered Rate). Same over there or are you 100% LIBOR?
I've lived through a few recessions, it ain't that bad, the sky hasn't fallen down, life goes on. Half my mortgage is fixed for a further 9 years, the other half is up for renewal in April, I think interest rates will fall further than the 0.25% from last month by then. Just wondering, around half of our home adjustable rates over here (US) use the LIBOR (London Interbank Offered Rate). Same over there or are you 100% LIBOR?
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angryboy
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Posts โข 366
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October 2007
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Credit crunch, credit crunch, credit crunch, by angryboy on Dec 19, 2007 18:02:34 GMT 1, I've lived through a few recessions, it ain't that bad, the sky hasn't fallen down, life goes on. Half my mortgage is fixed for a further 9 years, the other half is up for renewal in April, I think interest rates will fall further than the 0.25% from last month by then. Just wondering, around half of our home adjustable rates over here (US) use the LIBOR (London Interbank Offered Rate). Same over there or are you 100% LIBOR?
We don't use LIBOR. We use the UK Base rate set by the BoE, I'd've thought the US didn't use LIBOR for mortgages either and would have used the FED Funds rate. Is that what the other half use?
Also does that mean the mortgage rates move up and down on a daily basis as LIBOR does?
I've lived through a few recessions, it ain't that bad, the sky hasn't fallen down, life goes on. Half my mortgage is fixed for a further 9 years, the other half is up for renewal in April, I think interest rates will fall further than the 0.25% from last month by then. Just wondering, around half of our home adjustable rates over here (US) use the LIBOR (London Interbank Offered Rate). Same over there or are you 100% LIBOR? We don't use LIBOR. We use the UK Base rate set by the BoE, I'd've thought the US didn't use LIBOR for mortgages either and would have used the FED Funds rate. Is that what the other half use? Also does that mean the mortgage rates move up and down on a daily basis as LIBOR does?
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bigdave
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Posts โข 79
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April 2006
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Credit crunch, credit crunch, credit crunch, by bigdave on Dec 19, 2007 18:10:48 GMT 1, i went to the bank recently to try for a credit card... they pretty much looked at me checked my details and laughed at me, then the metal shutters doors came down....
probably for the best
i went to the bank recently to try for a credit card... they pretty much looked at me checked my details and laughed at me, then the metal shutters doors came down.... probably for the best
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ray
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Posts โข 388
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June 2007
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Credit crunch, credit crunch, credit crunch, by ray on Dec 19, 2007 18:22:55 GMT 1, Just wondering, around half of our home adjustable rates over here (US) use the LIBOR (London Interbank Offered Rate). Same over there or are you 100% LIBOR? We don't use LIBOR. We use the UK Base rate set by the BoE, I'd've thought the US didn't use LIBOR for mortgages either and would have used the FED Funds rate. Is that what the other half use? Also does that mean the mortgage rates move up and down on a daily basis as LIBOR does?
The rates on the LIBOR etc only come into play when the loan is set to adjust. 2 year, 5 year etc...
Just wondering, around half of our home adjustable rates over here (US) use the LIBOR (London Interbank Offered Rate). Same over there or are you 100% LIBOR? We don't use LIBOR. We use the UK Base rate set by the BoE, I'd've thought the US didn't use LIBOR for mortgages either and would have used the FED Funds rate. Is that what the other half use? Also does that mean the mortgage rates move up and down on a daily basis as LIBOR does? The rates on the LIBOR etc only come into play when the loan is set to adjust. 2 year, 5 year etc...
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Credit crunch, credit crunch, credit crunch, by corblimeylimey on Dec 19, 2007 18:29:00 GMT 1, Just wondering, around half of our home adjustable rates over here (US) use the LIBOR (London Interbank Offered Rate). Same over there or are you 100% LIBOR?
That appears to me like this....
想知道, 在一半我們的家庭可調整費率附近(美國) 在這使用LIBOR (倫敦銀行間的賣價) 。同樣在那或是您100% LIBOR?
Just wondering, around half of our home adjustable rates over here (US) use the LIBOR (London Interbank Offered Rate). Same over there or are you 100% LIBOR? That appears to me like this.... 想知道, 在一半我們的家庭可調整費率附近(美國) 在這使用LIBOR (倫敦銀行間的賣價) 。同樣在那或是您100% LIBOR?
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