§ 26. Mr. John GreenwayTo ask the Chancellor of the Exchequer what estimate he has made of the level of mortgage interest rates for the forthcoming year. [17644]
§ Mrs. Angela KnightIt is a long-standing practice not to publish the details of the interest rate assumptions underlying official economic forecasts.
However, average building society mortgage interest rates are their lowest for a generation. As a result, average mortgage payments are currently £170 less a month, £150 less a month than five years ago. This has been possible only because of the Government's success in controlling inflation.