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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Mortgage debt: what will the base rate do on Thursday?

09/03/2009

People with tracker and Standard Variable Rate (SVR) mortgages will be eagerly waiting to see what the Bank of England`s Monetary Policy Committee (MPC) decides on Thursday - and how this may affect the cost of servicing their mortgage debt.

This Thursday, 5th March, the MPC will announce whether it`s cutting the base rate even further, taking it down from its current (already unprecedented) 1%.

An article in The Telegraph looks at the `MPC-ometer`, which tries to predict the MPC`s decisions by looking at all kinds of factors, such as the growth of gross domestic product (GDP), business and consumer confidence, consumer price inflation, share prices, market interest rates and the exchange rate.

In the run-up to March`s decision, the MPC-ometer apparently predicts that the base rate will stay at 1%, making this the first month since last October that the rate hasn`t come down: in October, it dropped from 5% to 4.5%; in November, to 3%; in December, to 2%; in January, to 1.5% and in February it came down to the 1% mark, where it stands today - and where it may stay for at least one more month, if the MPC-ometer is correct.

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More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according