This is Money Podcast25 Nov 2022

Have savings and mortgage rates already peaked?

Savings and mortgage rates rocketed after what must now always be known as the 'ill-fated mini-Budget', but even as the Bank of England continues to raise rates have they already peaked.

The top fixed rate savings deals have edged down from their highest levels - a five-year fix can no longer be had above 5 per cent, for example, while the best two year fix is at 4.75 per cent.

So, if you want to lock into a good savings deal, should you grab one now?

Or did rates simply race ahead of the Bank of England and the next round of base rate rises will bump them up some more?

On this podcast, Georgie Frost, Helen Crane and Simon Lambert look at the potential future of savings rates and why even if they are slightly off their peak, you should still move your money from old accounts.

But if a dip in the top savings rates is bad, the easing of mortgage rates is good news. Average two and five-year fixed rates rocketed all the way to above 6.5 per cent. The best five-year fix is now down to 5.95 per cent.

But this is still way higher than it was, so where will mortgage rates settle and is it worth holding off?

The team discuss that and the implication for both house prices and first-time buyers.

And finally, an energy double header:

On a serious note the energy price cap (which we won't pay due to the energy price guarantee) has jumped again, this time to £4,279 for the average household over a year. If we won't pay that, why does this matter?

And on a lighter note, what happened when Harry Wallop (who refuses to let his family turn the heating on) tried out a bunch of oddball devices designed to warm the person not the room, ranging from an odd foot warmer, to a heated gilet, and a wearable sleeping bag that makes you look a bit like a crazy caterpillar?

Email us hello@dmgmedia.co.uk

Text us 020 7938 6000.

Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen Crane

Producer: Georgie Frost

Hosted on Acast. See acast.com/privacy for more information.

Denne episoden er hentet fra en åpen RSS-feed og er ikke publisert av Podme. Den kan derfor inneholde annonser.

Episoder(658)

Should we raise state pension age or axe the triple lock?

The rise in the state pension age looks likely to speed up again, as it was revealed this week that the Government has already been banking the gains.It is now almost certain that the state pension ag...

17 Jul 41min

Is a mansion tax for properties 'worth' £1.5m or more fair?

Twice as many households could be forced to pay a new 'mansion tax' latest speculation suggests - the threshold may fall from £2million to £1.5million.That rumour comes with Andy Burnham expected to b...

10 Jul 37min

Halifax to vanish as Lloyds ditches the brand - should we care?

Goodbye Halifax! It’s being scrapped by Lloyds after 173 years. But why would you kill off one of Britain’s best known and trusted banking brands?Georgie Frost, Lee Boyce and Simon Lambert discuss the...

3 Jul 48min

Bonus episode: Bank of England's Victoria Cleland on the future of cash - and wildlife on banknotes

On this bonus episode of the This is Money podcast, Lee Boyce speaks to Bank of England chief cashier Victoria Cleland on her views over the future of cash.We talk about why preserving choice in payme...

1 Jul 15min

Can Andy Burnham fix Britain's tax and financial headaches?

Another one bites the dust. Sir Keir Starmer has resigned just two years in to being Prime Minister.This latest rotation of Britain's PM merry-go-round comes despite Starmer having done nothing partic...

26 Jun 42min

Should you ask for an early inheritance?

Most families don't pay inheritance tax but those that do can get hit with huge bills running into hundreds of thousands of pounds.With pension pots soon to be included in calculations, this is going ...

19 Jun 49min

House prices vs inflation: The slow motion property slump

Follow us on Instagram @dmgnewmedia.Follow us on TikTok @dmgnewmediaFollow us on X @dmgnewmediaEmail us hello@dmgmedia.co.ukText us 020 7938 6000.Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen...

12 Jun 39min

The big inheritance shake-up for unmarried couples - and what it means

The government is planning a major inheritance shake-up for unmarried couples but does it go far enough and will it trigger a wave of disputes?On this week's podcast Georgie Frost, Lee Boyce and Simon...

5 Jun 52min