Interest Rates Are Unlikely To Fall!

For homeowners or those looking to take out secured loans or personal loans, it is unlikely that interest rates will fall in the near future according to some top economists in the UK and US.

Why?
For homeowners who drive a motor vehicle such as a car or van or motorbike on Britain's roads cannot escape the fact that we are paying out £1 a litre for petrol and diesel in most regions of the country for the first time. This rise in the cost of fuel is largely due to Government tax rises in the form of fuel duty and the price of crude oil which is nearly $100 a barrel.

What does this mean for homeowners?

Countries around the world will be concerned because rising fuel prices is large factor that contributes to inflation. Therefore, to curb inflation, interest rates in the UK set by the Bank of England are unlikely to fall in the short term which is bad news for those looking for a secured loan.