This article is about the mortgages in England. Paul Fisher warned of a potential tenfold increase in interest rates from their current low of 0.5%, to put a lid on rapidly rising prices. Homebuyers should prepare for rates to return to a more "normalized" level, he said, which would be around 5%. He didn't say when, but added: "That's where rates will eventually go back to." It may come as a relieve for the millions of mortgage holders who have enjoyed ultra-low payments on their tracker loans since the base rate fell to 0.5% in March 2009.
It is good to see that the mortgage rates are rising and returning to a more normalized level. A lot of people are worried with their mortgage as you put a lot of money in them. I don’t have a lot to comment on this article as I am not studying economics but I think the statements Paul Fisher does are “broad”. Paul Fisher said: "That's where rates will eventually go back to." Of course, but for how long? He didn’t answer that.
http://www.guardian.co.uk/money/2011/jan/15/mortgages-fixed-rate-or-tracker
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