smezz
Posts: 180
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Post by smezz on Jun 22, 2019 18:51:29 GMT
You've all made good points.
I think he should have come in at the same rate as the lowest on the lending queue - it only had a few £k on it.
His money would be matched very quickly and the rates could continue to rise.
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mary
Member of DD Central
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Post by mary on Jun 22, 2019 18:56:50 GMT
And £13.7k at 3.8%, loosing so much! I got 6.7% earlier. From 111 Lenders? This is the thing I don’t understand. No rational person (or even 111 people) would add new money this late on a Saturday at such a low rate, when prior matches are over 6%? My only guess is that a large loan with an outstanding balance of £13k was paid off manually, and the Lenders had auto settings to relend at 3.8%%? Hoping for 6% again tomorrow, then it’s back to 3ish%!
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smezz
Posts: 180
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Post by smezz on Jun 22, 2019 19:17:46 GMT
£60k on borrowing queue - rate could recover quite quickly.
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Post by Badly Drawn Stickman on Jun 22, 2019 20:54:55 GMT
£60k on borrowing queue - rate could recover quite quickly. Unfortunately I was out earlier so was not able to slide my rate up, so matches were at 6.1% (yes I know, thats not usually grounds for complaining). The loans were rather fragmented and some relatively short periods, 4 months onwards, almost seems like they were filling sell requests. You are correct though if settings are sensible rates should go back above 6% relatively easily. i feel a bit more shuffling is called for.
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Post by yorkman on Jun 22, 2019 21:43:52 GMT
Wrong. It only wouldn't affect others if they put it at a higher rate. The comparison wasn't against putting it in a higher rate. It was about putting it in at 5.5% vs 6.4%, when the rate the poster was wanting was 6.5-6.7+%. If they put 25K in at 5.5%, there's likely quicker and more matches with it, which makes it easier to get to 6.5-6.7+% than if they put in their 25K at 6.4%. WE were talking about those in the queue at say 6.4. If new money comes in asking for 6.3 you get pushed further out in the queue where as if new money comes in at 6.5 your place in the queue is not affected.
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ashe
Posts: 53
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Post by ashe on Jun 22, 2019 22:22:21 GMT
The comparison wasn't against putting it in a higher rate. It was about putting it in at 5.5% vs 6.4%, when the rate the poster was wanting was 6.5-6.7+%. If they put 25K in at 5.5%, there's likely quicker and more matches with it, which makes it easier to get to 6.5-6.7+% than if they put in their 25K at 6.4%. WE were talking about those in the queue at say 6.4. If new money comes in asking for 6.3 you get pushed further out in the queue where as if new money comes in at 6.5 your place in the queue is not affected. I'm not disagreeing with that. It just has no relevance to the post I responded to, which was talking about 25K being put in the queue at 5.5% when the queue was at 6.5-6.7%. My point is simply that, if somebody's going to suddenly stick a sum in at 'hugely below' current rate (in this example, 5.5%), that's better for other customers wanting higher rates than if it was put in at 'slightly below' current rate (in this example, 6.4%), since a far lower rate may get easily matched and the current rate can shoot up again quicker.
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aju
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Post by aju on Jun 24, 2019 14:54:01 GMT
There always the idiot like me who did not adjust rates in 5Y to correct level and had them at 5.6% when it probably would have been better at 5.9 or even 6.0%. I was manually adding at 6% and did not notice that 2 of my loans were repaying today. Just as I noticed I was about to change the relend and it just sucked the money in at 5.6% so fast.
There is more to this punting game than I had thought - am newby to RS of 6/7 months and since apr its been really sloooow. Things seem to be hotting up again ....
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st182
Posts: 27
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Post by st182 on Jun 24, 2019 21:55:09 GMT
Just back from a night away.......... 10.0%!!!! impressive
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ding
Member of DD Central
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Post by ding on Jun 25, 2019 14:39:12 GMT
At 7% now, and plenty in the borrower queue.
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mary
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Post by mary on Jun 25, 2019 14:54:05 GMT
At 7% now, and plenty in the borrower queue. Back to 4% now.
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