There are news that mortgage interest rates are constantly falling, but in reality nothing is falling, only citizens are falling from their current position. When some banks reduce interest rates from 5.3 to 5.2, newspapers report that mortgage interest rates have fallen, but it is not the interest rates that fall, but the house prices.
But the decrease in prices is not effective either, because the interest rates offered to citizens who want to buy a house are similar to the falling house prices. So, if you buy a house worth 300 thousand pounds, you have to pay 250 thousand pounds in interest.
In other words, there is no logic in decreasing house prices. Buying a house will now be a dream for the middle class. Of course, if there is a middle class…
