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Banks to defy Government and raise mortgages rates

November 11, 2008

Analysis of:Banks to defy Government and raise mortgages rates | www.timesonline.co.uk

Banks want to see more from the government as far as repaying these delinquent mortgage loans before they are confident in lending to consumers again. Banks are keeping interest rates higher until these see more funds released from the government and there is clear direction from the Presidential office as to what are the future pans for the financial sectors of the economy. Mortgage rates will come down as investor confidence is restored through the lending channels.

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