Interest rates held at 0.5 per cent

Link to the article: Channel 4 News

Last Modified: 09 Apr 2009
By: Bridgid Nzekwu

Interest rates are on hold at 0.5 per cent for the first time since October, and it is likely they will stay that way for a number of months.

That brings the cost of borrowing close to as low as it will ever go, meaning you can get a mortgage with less than three per cent interest.

But mortgage advisors are advising people to pay higher rates for protection against future rate rises.