Is 5
| Use attributes for filter ! | |
| Originally published | 1926 |
|---|---|
| Authors | E. E. Cummings |
| Date of Reg. | |
| Date of Upd. | |
| ID | 2915026 |
About Is 5
is 5 is a collection of poetry by E. E. Cummings, published in 1926. It contains 88 poems, divided into five sections. The collection includes a number of satirical and anti-war poems, perhaps influenced by Cummings' time spent as an ambulance driver in France during the First World War.
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House prices edge higher as signs mortgage rates will fall
By Michael RaceBusiness reporter, BBC News
House prices edged up 0. 2% last month amid " encouraging signs" that mortgage rates are starting to come down, the Nationwide has said.
The Building society said financial markets estimated interest rates had peaked and would start to come down, easing affordability pressures.
But its chief economist warned it would be unrealistic to expect a Big Drop in rates and that it would take time.
Interest rates set by The Bank of England are at a 15-year high of 5. 25%.
The Bank has increased its base rate in an attempt to slow down inflation, which is the rate at which consumer prices rise, and ease the cost of living.
But these higher interest rates have pushed up mortgage rates, Making It more expensive for people to afford to buy homes.
The slowdown in the housing market has led to house prices falling year on year, according to Nationwide, with its latest data suggesting property prices were 2% lower in November compared with the same month Last Year .
However, The Building society's data is based on its own mortgage lending, so the figures do not include those who purchase homes with cash or buy-to-let deals. According to the latest official data, cash buyers account for More Than a third of housing sales.
Robert Gardner , Nationwide's chief economist, said while house price growth remained weak, The Market was " holding up a little better than expected".
" There are some encouraging signs that mortgage rates have started to come down, which is going to ease affordability pressures, " He Said , adding that borrowing costs had " really been the brake on The Market " in recent times.
He told The Bbc 's Today programme that financial markets thought interest rates had now peaked and would come down in The Years ahead, which would in turn pull down longer-term rates that underpin mortgages.
" But because affordability is stretched I think it's unrealistic to think that's going to change significantly. Nobody is expecting a dramatic decline in mortgage rates, " he added.
The average two-year fixed mortgage rate is currently 6. 05%, while the average five-year deal Is 5 . 66%, according to financial information service Moneyfacts.
While the markets have bet that interest rates have peaked, The Bank of England has repeatedly warned against suggestions that rates will be cut anytime soon.
Inflation fell to 4. 6% in the year to October, but remains More Than double The Bank 's 2% target.
Related TopicsSource of news: bbc.com
