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Post by richarda on May 15, 2017 9:14:15 GMT
OK, ignore my previous comment. It turns out Friday was just a quiet borrowing day and everything is back to normal in the Rolling market today (Mon, 15/5).
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Post by gidoppp01 on May 16, 2017 8:34:57 GMT
There's something odd going on with Rolling, today (11/5). The borrowing requirement is being drip fed at a low (the lowest?) rate and is only slowly creeping up - from 1.9% at breakfast to about 2.8% now (3pm). So, we have no clue how much will appear on this market and can't place money at an appropriate rate to get a good match. Today I'm in at 3.0% and 3.1% but the queue has remained pretty static so far. Is this a change of tactics by RS to get a cheaper Rolling rate or is there simply no borrowing requirement today? R. The rate goes up and down just like the stock market, and it is driven by the supply and demand of the loan market. Fact, the lowest rate Ratesetter offers for personal loan is 3% according to uSwtich comparison. Just never settle with a rate that you are not happy to lend.
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alender
Member of DD Central
Posts: 955
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Post by alender on May 16, 2017 11:42:39 GMT
Unfortunately it is nothing like the stock market, more like a supermarket where the vender (RS) sets the rates to maximize profits. The way RS sets the rates has been discussed many times on this forum but it can only be described as a market in the very loosest of terms.
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Post by gidoppp01 on May 16, 2017 12:40:47 GMT
Unfortunately it is nothing like the stock market, more like a supermarket where the vender (RS) sets the rates to maximize profits. The way RS sets the rates has been discussed many times on this forum but it can only be described as a market in the very loosest of terms. I used to set my rate and got matched within 1-2 days, usually better than the lowest rate than being offered from ratesetter shown on uSwitch comparison. Sometimes, 1 year market performs better than Rolling. I dont use the ratesetter market rate.
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