It may surprise you to know that in a survey of more than 1500 UK home owners, 25% believe current interest rates are either higher or the same that they have been in the past, or simply don’t know. 
Of course if you read this blog you will know that I have been talking about interest rates going up for quite some time. And I have mentioned that the current bank rate of 0.5% has been an historic low for exactly two years this month. So you’ll be a pretty savvy person knowing all this as a regular to this blog.
So here’s a headline for you:
Rise in interest rates could take millions of homeowners by surprise – Shelter
One in four mortgage holders is not aware interest rates are at a historic low, research highlighted by Shelter shows.
In a survey of more than 1,500 UK homeowners a massive 25 percent believe current interest rates are either higher or the same than they have been in the past or simply don’t know.
Within the 25 percent who are unaware a staggering nine percent of mortgage holders believe interest rates are slightly higher than they have been in the past, whilst four percent believe they are much higher than they have been previously.
The housing and homelessness charity is highlighting the research, conducted by the Council of Mortgage Lenders last year.
Shelter is warning the equivalent of 2.8 million homeowners may be completely unprepared for the costs of rising interest rates based on their lack of awareness about where they are currently.
You can read more about this here:
http://www.24dash.com/news/housing/2011-03-14-Rise-in-interest-rates-could-take-millions-of-homeowners-by-surprise-Shelter
