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News - Interest rate October - 2007October 16th The UK inflation rate remained unchanged at 1.8% in September making a cut in base rates from 5.75% more likely. Upward pressure from higher food prices as a result of this summer's bad weather was counteracted by a fall in gas and electricity prices. The biggest price increase was an average 4p on a pint of milk. October 3rd The likelyhood of a UK base rate rise moved even further away at the beginning of October as the latest monthly inflation and house price figures showed a leveling off. The Consumer Prices Index fell to 1.8% in August 2007 - well under the government's target of 2% although it doesn't include mortgage rates which have increased in response to the five hikes in base rate over the past year or so. Many financial commentators are speculating that the rate will drop to 5.5% before the end of the year. The housing market remains flat across the board with demand at the top of the range falling as city high-fliers worry about their bonuses in response to the continuing uneasiness in the money markets. Estate agents say the rest of the market is still quiet as buyers adopt a "wait and see" policy in response to the base rate rises, the Northern Rock crisis and the continuing fall out from the US sub-prime crisis. September 2007 Base Rates More Financial NewsPrevious Interest RatesHouse prices up - Demand downWealth Gap biggest for 40 yearsBrown promises three million more affordable housesImportant Checks Before You Sign Up For a LoanGetting a Loan when you have a bad history 'more difficult' say Lenders
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