blender
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Post by blender on Jan 6, 2015 14:59:52 GMT
Fumbling Circus seems to have gone flakey again. Selecting the "Sell" tab now issues me a warning that I have got Autobid switched ON (although that had better be 100% wrong!!) ... Oh! I thought it was some other fasty who had bought my big old 4% parts at par. ( Did you know you can set Autobid to buy down to 4% on the SM for all risk bands, even C- with net returns of -2%, though of course there can be no C- parts below 11.5% at par? Recommended for philanphropists who want their cash lent really, really, really quickly.)
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fasty
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Post by fasty on Jan 6, 2015 15:27:12 GMT
Fumbling Circus seems to have gone flakey again. Selecting the "Sell" tab now issues me a warning that I have got Autobid switched ON (although that had better be 100% wrong!!) ... Oh! I thought it was some other fasty who had bought my big old 4% parts at par. ( Did you know you can set Autobid to buy down to 4% on the SM for all risk bands, even C- with net returns of -2%, though of course there can be no C- parts below 11.5% at par? Recommended for philanphropists who want their cash lent really, really, really quickly.) Hmmm! Hopefully my autobid is NOT on, otherwise I wouldn't still have the bucket of cash liberated by loan offers declined today! Presumably the borrowers whose auctions finished early in the holiday period at "normal" rates are now seeing auctions finishing at 6% or so and having second thoughts? Oh, here's a good phrase; I quote verbatim from my summary page : "There are no comments for you are currently exposed to"
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Post by GSV3MIaC on Jan 6, 2015 16:15:00 GMT
Even the ones finishing early in the holiday were at rather low rates as far as I am concerned. 8>.
The more recent rates have gone from low to ludicrous.
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sl75
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Post by sl75 on Jan 6, 2015 18:00:06 GMT
Even the ones finishing early in the holiday were at rather low rates as far as I am concerned. 8>.
The more recent rates have gone from low to ludicrous.
It wasn't all that long ago that rates not far off the present minimum bid rates were generally considered ridiculously high by the market (so that almost all auctions got filled at MBR pretty much as soon as they were listed, and there was strong demand for the resulting loan parts on the secondary market at a modest premium). How times change! We'll have to see how the balance of supply and demand works out over the next few days/weeks - as to whether the future will judge the current rates as a return to normality (following an extended period of unusually high rates during much of 2014) or as a temporary dip (with rates subsequently returning to the normal level established in 2014 for the remainder of 2015 and beyond).
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Post by GSV3MIaC on Jan 6, 2015 21:35:45 GMT
Well previous experiences of Christmas would suggest that it always comes with a dip, so that'll have to work out of the system before we can guess. Rates were dropping slightly mid December IIRC, but by 'early in the holiday' they were already low by 3q/4q 2014 standards.
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blender
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Post by blender on Jan 7, 2015 10:26:58 GMT
9847, unsecured A+ wanting 100k, is at 6% with five hours to go and may be filled at MBR. A time to keep one's hand in one's pockets, and purses tightly zipped. Autobid seems also to have tired of the SM which is curious.
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Post by davee39 on Jan 7, 2015 10:27:53 GMT
Looks like the repayment run has died. FC funds total dropped & less than half the expected payments recorded on transaction statement (for at least the last two hours).
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Post by moto on Jan 7, 2015 11:22:53 GMT
Same here, I have transactions posted today but the overall total has not increased at all.
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adrianc
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Post by adrianc on Jan 7, 2015 12:52:07 GMT
Whereas my repayment run today seems to have gone fine, and cleared the backlog almost entirely... <shrug>
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Post by Deleted on Jan 7, 2015 13:50:51 GMT
9847, unsecured A+ wanting 100k, is at 6% with five hours to go and may be filled at MBR. A time to keep one's hand in one's pockets, and purses tightly zipped. Autobid seems also to have tired of the SM which is curious. Purse well zipped hand well out of pocket. Picked up a bit more at AC but even there the market looks a bit slow. Looking for FTSE to hit 6200 before buying there as well. Time to book another holiday.
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wysiati
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Post by wysiati on Jan 15, 2015 12:54:54 GMT
Sloooooow...
>£100k live bids on a £21k auction.
SNAFU
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blender
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Post by blender on Jan 15, 2015 13:52:11 GMT
Yes, situation normal, send for FCITT - the FC IT team - oh they were already here.
I have a hypothesis that rates are being squeezed (by diversion to whole loans) in part to allow the cash back promotion to be removed from the property loans, at least for a while. Necessary, but if so it is the tail wagging the dog. Not worth following the new loan requests -nothing to buy but someone is buying everthing so why do FC need to change it? Low rates now balance the high rates before. Lenders are now protected by MBR. So if I were FC I would feel comfortable now and would push for more loan supply. They are not going to listen to a few moaners on the forums.
Well, hypothesis weakened - more loans at 1%.
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oldgrumpy
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Post by oldgrumpy on Jan 15, 2015 13:57:54 GMT
Yep. Looks like a third repayments withdrawal since Christmas is imminent. Help fund my S&S NISA (come on someone ... drop the ftse to 6000 for a couple of weeks!  ). |
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Post by jackpease on Jan 19, 2015 10:37:19 GMT
FC site struggling this morning - bad gateways and rejected requests etc etc. Sigh.
JP
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Post by GSV3MIaC on Jan 19, 2015 15:19:23 GMT
Well it can hardly be the astounding volume of loans can it, although I expect there was frantic bidding on the few which closed today (I was not there!). Obviously the Xmas break/rest did not refresh the hamsters sufficiently.
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).