[Closed] Interest rates - if they drop to 0.5% today

I think prices have to fall a way yet before most people are interested. Banks are reluctant to lend even now. If they offer you a 95% mortgage they've got to value the house at the price offered. Seems to be catching people out where they have the deposit but the banks don't lend them money as the house isn't worth what they were trying to mortgage.

Also, current house prices have dropped due to a shortage in credit. The bigger falls haven't started yet, we've only just entered this recession officially and job losses are only just starting and show no sign of stopping.

They'll blip then go back down again.