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Oil prices vs mortgage
My Immotheker told me the percentage of a mortgage is independent from the oil prices.
Can he please explain this:
Thank you...
(Sidenote: ECB is ready for a raise..
My personal opinion: prices of oil will go down a little bit more since the conflict in the Middle East has stabilized, and on top of that a huge new oil field was discovered in the States. The interest will go down accordingly. But the ECB announces a raise from October onwards. I'll take my loan before that date. -I'll have to anyway, since the apartment really doesn't wait for me...-)
Technorati Tags: boring stuff, mortgage, oil
Posted on September 9, 2006
in Living in Belgium
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Comments (2)
Comments
But, prices of mortgage are connected to prices on the stock market. Which means that within some years there will be bargains on the stock market because nobody will have any money left because all capital is invested in housing... Now, is investing in mortage a smart decision then? It's at least less risky.
Posted by Bart | September 10, 2006 12:02 AMDon't get your hopes up too much on the new oil field. If they pull an average of 9 billion barrels out of it as indicated, that's what the planet uses in 3 to 4 months. We use _a lot_ of oil, and it's growing exponentially.
Deepwater oil costs a lot more to extract which won't bring prices down that much either. Also, if they're looking for oil in hostile places like that, you know there's a supply problem.
Everything is linked to oil prices, but they do also serve as a good excuse at times :)
Posted by Colin | September 10, 2006 1:21 PM