MORTGAGE INTEREST RATES (2) 

I have today received notification of the new interest rates on the various mortgage loans on our house. These are set every six months, so the rates will last until 1 October.

Two and a half years ago, I thought that the rates were almost ridiculously low. Since then, they have continued to fall. The coupon rate on the two 5% guarantee loans is now 1.36%; while that on the 6% guarantee loan is down to 1.01%.

Can they fall any further? Back in 2010, I would have said no, and I was wrong. Now I am saying nothing.

Walter Blotscher