robski
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Post by robski on Jul 30, 2019 7:40:38 GMT
So 5 year finally ticked up from 5.5% to 5.6%, I was assuming it would be soon as its been lending quite consistently above 5.5%, but quite a lot AT 5.5%
I think we should see 5.7% around the end of August if the lending volume keeps up
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benaj
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Post by benaj on Jul 30, 2019 8:17:54 GMT
Last 3 months average rate for 5 year is around 5.4%, bit below last 12 months average 5.8%, I suppose we will see it go back up at some point later this year.
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mark123
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Post by mark123 on Jul 30, 2019 8:30:32 GMT
You could experiment with setting your own rate. Recently, offers at 5.9% have lent out within a week.
If you look at the queue and ignore rates with < £100k on offer, you will normally see the chunk from automatic market rate investment and a higher chunk which hasn't quite got lent out in recent days. Try putting half your funds at the higher chunk rate and half at 0.1% below that. You will normally find half or all your offers are lent out by Monday.
I also set a personal minimum that I judge to cover the P2P risk - in my case 6.1% - which means that I rarely lend between April and July.
Good luck, Mark
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cb25
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Post by cb25 on Jul 30, 2019 8:51:00 GMT
So 5 year finally ticked up from 5.5% to 5.6%, I was assuming it would be soon as its been lending quite consistently above 5.5%, but quite a lot AT 5.5% I think we should see 5.7% around the end of August if the lending volume keeps up The 5yr market was at 5.9% (at least) yesterday for manually placed bids, as suggested by mark123, as I managed to invest at that level.
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Post by propman on Jul 30, 2019 10:28:00 GMT
prior to the beginning of week funds being auto-lent some time aftter 7PM yesterday, I was lending at 6% although on offers made prior to Sunday. Now that we have 4 days of refunds on the market, unlikely to exceed 5.6% until late tomorrow at the earliest, but optmistic that should lend at 5.9% by Friday, although yesterday volumes were very low so will need to pick up considerably.
- PM
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ashtondav
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Post by ashtondav on Jul 30, 2019 10:56:49 GMT
I’ve had a few wedges loaned out at 6% in the last week or so.
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robski
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Post by robski on Jul 30, 2019 11:26:18 GMT
Sorry think in my post I failed to point out I was referring to market rate moving. I don't ever lend at MR. Well strictly speaking I very very rarely lend at MR, my funds all go back to holding by default. Last weeks reinvestments were at 6% although some took until yesterday to actually match. Up until last week I was mainly going for 5.9% for probably last 2 weeks. I always assess the que and where i think it will reasonably get to in a reasonable timeframe. I wont leave it longer than a week typically, since I have had enough where its matched and repaid faster than that 6% is actually my target rate, so if I can get 6% within a reasonable timeframe I will almost always go for it.
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Post by propman on Jul 30, 2019 12:14:58 GMT
I am not expecting this move in MR to have much impact. Much of the lending has been happening later in the week has been at 5.8-6% in recent weeks (if "week" taken to end o the weekend repayments being credited). I don't expect the funds lent at 6.1% to be depleted soon as lending seems to be slowing dramatically as the 6% matches start. I don't think that high a proportion has been lent at 5.6-7%, so the "loss" of 5.6% offers between the MR and highest rate matches shouldn't make much difference. MR will only stay at 5.6% if the MR funds are lent by Friday so that the (generally lighter) weekend & Monday lending can cancel the impact of "Lend it Now" funds below MR.
i would only expect MR to make a significant difference if it reaches 5.8%. When i would expect to see increased lending at 6%+ Once MR is breached.
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aju
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Post by aju on Jul 30, 2019 15:31:39 GMT
So 6.0% is possible, Mrs Aju got one last week, I've set our collections/relends at 6.0% for now so they at least get at the start of the 6 queue as early as possible. I could see the system suck up quite a bit of 6.0% over the weekend so I was hopeful of a 6.1% possible but I think we were not near enough to the front of the queue.
Yesterday some considerable hits on the 5.9 were there and I think I saw some 6's as well late in the day. Just when you think its moving RS systems just feeds a load more into the queues and things subside.
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Post by oppsididitagain on Jul 30, 2019 15:35:36 GMT
So 5 year finally ticked up from 5.5% to 5.6%, I was assuming it would be soon as its been lending quite consistently above 5.5%, but quite a lot AT 5.5% I think we should see 5.7% around the end of August if the lending volume keeps up lendingworks is 6.5% for 5Yr with a PF fund, takes about 7 days to lend money. if you PM me - I will send you newbie link and we both share some cash A few times in June and July the rolling was getting over 6%.
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robski
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Post by robski on Jul 31, 2019 8:29:30 GMT
Not much at 5.6% today and pretty sure the reinvestment at market rate is already there.
I think it will likely hit 6% today again, but probably wont go deep into 6% unless some large amounts go out.
Tomorrow will be interesting, first of the month, by recent standards it can take most of the day for the processing and the market rate money to be processed to the queue
Its not after a weekend though unlike June so it could be a bit faster.
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Post by wiseclerk on Jul 31, 2019 9:40:02 GMT
I don't see what's exciting or interesting about 5.6% when you can get 7.9% rate for 5 years at a very similar offering from Ratesetter Australia? I know it is not the same market, currency or even company. But still.
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Post by propman on Jul 31, 2019 10:44:08 GMT
Not much at 5.6% today and pretty sure the reinvestment at market rate is already there. I think it will likely hit 6% today again, but probably wont go deep into 6% unless some large amounts go out. Tomorrow will be interesting, first of the month, by recent standards it can take most of the day for the processing and the market rate money to be processed to the queue Its not after a weekend though unlike June so it could be a bit faster. That's because it is 31, so only loans set up in 7 of the 12 months will be repaid. esterday volumes were quite good, lets hope that the borrowing doesn't slow too much when and if rates increase.
- PM
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robski
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Post by robski on Jul 31, 2019 11:42:11 GMT
Sort of but not exactly IMHO I suspect most people taking out loans at the end of the month get a first payment at the start of the next month+1
Also, a lot of my loans seem to have start dates at least a month in advance of when written (which is why they tend to show 61 months the day they are written)
I think its just the natural curve of if payments are close to the end of the month people do them after payday, for safety may as well make it 1st of following month.
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aju
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Post by aju on Jul 31, 2019 15:24:25 GMT
I'm seeing occasional 5.9% and a few 5.8% before it drops back for a while and then jumps up again. My 6.0% was on over 600k a couple of hours ago but now its sitting @ 470k so its moving slowly but it is catching up until ... Edit: Sadly as I wrote the above its started to creep back up again... now at 497k headroom. Edit2: and now its back at 5.5% and has bumped the headroom to my 6.0% to just under 600k ...
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