Will Rice

@EdConwaySky you're welcome, we dropped our rates up to 0.60% overnight

NEW Average mortgage rates fall for first time in months - Moneyfacts. Avg 2yr fix down from 6.81% the previous day to 6.79%. Avg 5yr fix down from 6.33% to 6.31%. & NB this will largely reflect falls in swap rates BEFORE day’s lower-than-exp inflation. Eg further falls likely.

@George_Nixon97 @thetimes @oliver_wright we passed them on overnight...

Nice to have some good mortgage news to report on the front of today's @thetimes alongside @oliver_wright. Yorkshire Building Society's David Morris tells me the big fall in underlying swap rates after positive inflation data could be passed onto mortgage rates in 2 to 3 weeks

I think that's an SPQR code

@RestIsPolitics I particularly enjoyed @RoryStewartUK calling Prigozhin Pirozhkin throughout, which essentially translates to Cake-Man or Bun-Boy. Quite sophisticated trolling of Putin's chef 😆 en.wikipedia.org/wiki/Pirozhki

EMERGENCY POD! As Wagner Group mercenaries led by Yevgeny Prigozhin apparently rebel against the Russian Army, what impact could this have on the war with Ukraine and Vladimir Putin’s position as president? Listen now: bitly.ws/JsQg

Everyone please be aware of and keep highlighting what is going on with WSJ reporter Evan Gershkovich. Journalism is not a crime. #FreeEvan #IStandWithEvan #JournalismIsNotACrime instagram.com/p/CqeEckRByP2/…

@Samfr Hi Sam. Where's the best reporting you've seen on this?

Honestly don't understand how the China travel checks is a bigger news story than people lying on the floor of A+Es around the country writhing in agony. The latter is far scarier and consequential.

@coff_ey @ChrisGiles_ Hi Jack. Lender pricing is from MoneyFacts and swap rates from Bloomberg. The chart itself is one we create and use internally at Generation Home

@William_Rice2 @ChrisGiles_ What's the source on this chart please?

This chart is amazing. After the calamity of Trussonomics, expected BoE interest rates soon fell back. Equivalent mortgage rates shot up like a rocket but have fallen like a feather …leaving households still at the sharp end of the moron premium

@ChrisGiles_ Some lenders have also moved to reprice a lot faster, so the reality for borrowers is much better than this. The best rates in the market are no just 0.4-0.6% above swaps

@ChrisGiles_ Hi Chris! Unfortunately the chart is enormously misleading based on when the X-axis begins. This chart shows lender spreads (Big 6 2yr and 5yr products at 80/90% LTV) since autumn 2021. The FT chart picks the point to begin at which spreads were deeply negative for a few days

@George_Nixon97 Here's a chart showing spreads (2yr and 5yr fixes from the Big 6 lenders at 80% and 90% LTV) since autumn 2021. Spreads on leading rates from HSBC and Halifax are now at just 0.50%

@George_Nixon97 Spreads collapsed by >1% in the week or two before this chart begins

Great chart from the FT today showing that while swap rates have come right now as the mini-Budget has been reversed, average mortgage rates have only come down very, very slightly ft.com/content/7bad47…

If France didn't want to play in the World Cup final, they could have let us through 🤷‍♂️

@montysblog Justice!

How is that ever a penalty? Ridiculous

@Samfr Not even close

Am I going mad or did Ronaldo not touch that? FIFA have awarded the goal to Fernandes. Commentators seem convinced it was Ronaldo.

@BondHack Well done guys! Did you ever get to the bottom of Shard Capital and their role in the whole crooked affair?

Hard to overstate how seismic an investment ban for Bruno Crastes would be for H2O, given that his apparent magic touch for macro trading has long been a key marketing point for the firm He argued today that he’d always acted in the interest of investors ft.com/content/041946…

In 2019, @cynthiao and I busted open a billion dollar dubious bond scheme at the heart of European finance, tying H2O Asset Management to fast-living financier Lars Windhorst Today, French regulators begin enforcements proceedings against H2O. Stay tuned! ft.com/content/51b425…

@holland_tom You’re running the risk of become too modern! 😉

Lady Jane Grey, the rise of the Nazis, Columbus, the real Downton Abbey, Ronald Reagan, Jezebel, Hamlet, Swinging London and the assassination of Julius Caesar are just some of the delights coming your way!

A top meeting at Rest Is History Towers this morning. Some absolute bangers coming your way in the new year...

@holland_tom Crisis of the 3rd century and Punic Wars please 🙏

@holland_tom @holland_tom the Somerton Man narration was gripping. You and Dom need to moonlight with The Rest is True Crime

So happy there’s an appetite for our FESTIVAL OF WORLD HISTORY - huge thanks to everyone who is listening!

@resi_analyst Do we know why they think mortgage rates will go meaningfully sub swaps? Presumably they don’t want their house price projections to be any more downbeat?