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Post by westonkevRS on Jul 29, 2016 15:51:56 GMT
Well good riddance to a lousy month. I was hoping for 6% this week but it was not to be. August is usually a dullard so here's hoping for the usual seasonal boost in borrower demand for September. Funnily enough, against my expectations RateSetter had a good period of lending last week. I few tweaks here and there, were matched with a surprisingly high demand. July can also be quite a busy month for tax based loans, lots of sole traders and businesses "paying by account". But I do expect August to be quiet, it is a seasonally quiet time... Kevin.
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agent69
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Post by agent69 on Jul 29, 2016 17:07:17 GMT
Well good riddance to a lousy month. I was hoping for 6% this week but it was not to be. I've got a fair bit in the queue at 6%, but it doesn't look like it's going anywhere fast. I'm not going less than 6 so if it don't shift by month end I will be withdrawing it and using it to pay some hotel bills from my forthcoming holiday.
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averageguy
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Post by averageguy on Jul 29, 2016 23:34:25 GMT
Managed to get some away at 5.9 earlier which I was happy with.
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ashtondav
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Post by ashtondav on Jul 30, 2016 9:54:28 GMT
Yep, I changed a few offers to 5.9% and got them accepted. I've still got many offers at 6% to 6.4% waiting in the wings. Here's to autumnal September and all those folks taking out loans to pay off holiday debts.
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Post by dualinvestor on Aug 1, 2016 16:45:35 GMT
Well there's a surprise, not only a couple of matches at 6.0 but one at 6.1, first time since mid-July. Totally counter-intuitive to expectations. Mind you over 8000 matches.
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agent69
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Post by agent69 on Aug 1, 2016 17:04:56 GMT
Well good riddance to a lousy month. I was hoping for 6% this week but it was not to be. I've got a fair bit in the queue at 6%, but it doesn't look like it's going anywhere fast. I take it all back. All gone in a flurry of activity
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oldgrumpy
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Post by oldgrumpy on Aug 1, 2016 19:09:21 GMT
Mmmm! Surprise indeed, though Kev probably needed a few hundred thousand for his round the world "jolly" annual leave pocket money! Or there must have been a big loan (or three) pushed through this afternoon. I withdrew some accumulated ex 6% funds on Thursday (arrived in my bank on Friday, partly now in Collateral and MT), but my Monday repayment today had already been lent out at 6% when I logged in this afternoon.
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registerme
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Post by registerme on Aug 2, 2016 1:36:27 GMT
Mmmm! Surprise indeed, though Kev probably needed a few hundred thousand for his round the world "jolly" annual leave pocket money! Or there must have been a big loan (or three) pushed through this afternoon. I withdrew some accumulated ex 6% funds on Thursday (arrived in my bank on Friday, partly now in Collateral and MT), but my Monday repayment today had already been lent out at 6% when I logged in this afternoon. I had a bit of a Boris / Giles Brandreth combo moment there. Horrible. All sorted out by a banana though .
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ashtondav
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Post by ashtondav on Aug 2, 2016 15:10:09 GMT
YES! A whole truckload of loans flew out at 6.1%
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Post by ruralres66 on Aug 2, 2016 19:27:03 GMT
Five year rates have dropped in the last few months ... in April I could get 6.5%; now I have to hold out to get 6.1%. If the economy does a brexit plummet, I guess the taxpayer will push more liquidity into the banking system and rates could drop further. The same brexit plummet could increase defaults, so the risk goes up as rates go down. The FTSE 100 hasn't grown in 20 years and I'm out. Potential bubble in commercial and residential property waiting to burst. Bond rates aren't worth the effort. Now putting P2P on hold. So, for the first time ever, I've got my retirement pot in a building society at 1%. Which won't be enough to cover a potential round of inflation kicked off by the dropping pound. Living in "interesting times" Yorkshire =online saver( via subsumed Barnsley) will be offering 1.30 as from September!
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alender
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Post by alender on Aug 2, 2016 22:20:04 GMT
If you maxed out all the 3% - 5% current bank accounts then you can still get 1.45% at RCI Bank.
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agent69
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Post by agent69 on Aug 7, 2016 15:20:33 GMT
Looks like a case of the weekend wobbles.
Last matched now 5.1%
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oldgrumpy
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Post by oldgrumpy on Aug 7, 2016 15:32:05 GMT
Baaaaaaaaaa! The usual ovine stupidity and automated RS reaction. A lender offers 5.9% so RS put a borrower offer on at 5.7% so someone offers the 5.7%, to which RS suddenly finds "borrowers" offering 5.5% (which weren't there just before!!) and a lender offers to do that (looking for a bonus?) to which RS finds a 5.3% borrower (every time changing the "lend right now" down) so 3 lenders appear to offer 5.3%, and well well well, RS say borrowers are only offering 5.1% now, and still someone falls for it. A ludicrous automated system for temporarily pushing the rates down - but even more to the point, it hammers down the calculation for tomorrow's market rate. How convenient (for RS). And we are led to believe RS staff are hard at work on a sunny Sunday afternoon processing new borrowers' needs as they flood in?? RS will probably set market rate tomorrow at about 5.4%, then place borrower rates at 0.2% lower for most of the day. Don't lend on Monday mornings.... or even afternoons .... though last Monday bucked the trend somewhat.
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oldgrumpy
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Post by oldgrumpy on Aug 7, 2016 15:35:17 GMT
Basically, RS don't want to lend tomorrow at 6.0% (or even 5.9%), where the true lender market rate should be.
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locutus
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Post by locutus on Aug 7, 2016 15:43:55 GMT
Baaaaaaaaaa! The usual ovine stupidity and automated RS reaction. A lender offers 5.9% so RS put a borrower offer on at 5.7% so someone offers the 5.7%, to which RS suddenly finds "borrowers" offering 5.5% (which weren't there just before!!) and a lender offers to do that (looking for a bonus?) to which RS finds a 5.3% borrower (every time changing the "lend right now" down) so 3 lenders appear to offer 5.3%, and well well well, RS say borrowers are only offering 5.1% now, and still someone falls for it. A ludicrous automated system for temporarily pushing the rates down - but even more to the point, it hammers down the calculation for tomorrow's market rate. How convenient (for RS). And we are led to believe RS staff are hard at work on a sunny Sunday afternoon processing new borrowers' needs as they flood in?? RS will probably set market rate tomorrow at about 5.4%, then place borrower rates at 0.2% lower for most of the day. Don't lend on Monday mornings.... or even afternoons .... though last Monday bucked the trend somewhat. What's the reason you still lend with RS out of interest? You know how they play the game. My RS money has now gone to BM. BM pays a better rate, doesn't charge you to liquidate and the mass diversification seems to be just as good as a provision fund in terms of protection.
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