Bank ace warns against interest rates 'shock therapy' - 2004-03-19
A senior Bank of England representative today said not in favor of using “shock therapy” to push British householders out of their excessive spending habits.

Figures from the Council of Mortgage Lenders, also published on Thursday, showed that borrowing by home owners slowed in February, dropping to its lowest level for nearly a year.
Read the full story at Ireland On-Line

Low mortgage rates builds business - 2004-03-19
Some of the lowest interest rates in 45 years are keeping mid-valley residential builders and Realtors active.

For instance, a $100,000 30-year mortgage at 8 percent interest would be $733.77 per month. At 5.25 percent, that payment drops to $552.20 — a savings of $181.57.

Those savings are there for others, too — from people taking out a $20,000 loan to have a kitchen remodeled to developers looking to borrow several million dollars to finance a big new subdivision.
Read the full story at Corvallis Gazette Times