RE: 2024 bargain basement17 Sep 2024 12:20
Hi Busicat, in answer to your question yes, I can see the share price going lower. The mortgage market is dead in terms of purchases. We need purchases as this makes the wheels go round, but unfortunately people are sitting tight at the moment. Yes, the interest rates have fallen slightly, but compared to a couple of years ago people are not prepared to take on big mortgage payments. The remortgage/product transfer market is busy, but that's only people moving existing mortgage as their low fixed rates expire, imagine finding out your new mortgage costs will be £1,000 per month higher, no wonder people have little to spend after covering all of the bills. Additionally, it doesn't help that many people have car loans effected when the mortgage rates were lower. Live within your means was easy with low interest rates, but now people are finding it very difficult to manage financially. Need some good market news before I see the share price heading north.