Money Box Live: The Cost of Owning a House
Money Box
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The Impact of Borrowing Costs on the Housing Market
Claire, we heard from Mark there about the interest rate he'll be paying 4.79%. Now, just a couple of years ago, that would have seemed unthinkable, but is in fact much closer to the long term average. Tim, what kind of impact do those borrowing costs having on the housing market? Yeah, so obviously the housing market itself has been, it's faced challenge after challenge, I think, for the last sort of three and a half years,. And I suppose what's been proven over that time is just that desire for people to move. Angie, tell me about your situation as you're trying to be a first time buyer.
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