Record low interest rates boost borrowers

Interestingly the Daily Express ran a headline this past week suggesting that interest rates will remain at record low levels for the foreseable future. This is potentially very good for borrowers and those with mortgages especially as the expected payments on a mortgage dwindle.

Whether savings will be passed on to standard loans is another matter, but at least residential costs will remain lower in the current economic climate. However on the other hand savers are going to increasingly find themselves hard pressed to get close to inflation.