Mortgages Highest Since Last Recession ⛔️

Mortgages are now the highest they've been since the last recession. Have we hit the cycle full-scale turnaround, and are we on the edge of the next housing correction or crisis or even property market crash? Well, I think it's coming. I think it's coming soon, and I think it's coming big. So right now, the average fixed rate mortgage is 6.07%. The highest it's been since just before the crash of 2008. Um, now just December last year, the average fixed rate mortgage was under 3%. So in 10 months, the interest rate on the average fixed rate mortgage has doubled, which means the average person repaying on a variable rate, their mortgage could double. Could double. So £300 could be £600, £600 could be £1,200 a month. Rates are starting to go up sharply. They needed to go up to control inflation, but of course the downside of interest rates going up to control inflation and support the weak pound was always going to be that people on variable rates, their mortgages weren't going to be much higher, and people trying to get new mortgages on fixed rates are paying not just for interest rates now but interest rates predicted. So even though interest rates are still way sub-3%, the markets think that interest rates are going to go up a lot, so they price that into their fixed-rate mortgages. Essentially, a fixed-rate mortgage is you insuring against rate rises, but the banks have to factor in the predicted rate rises to cover their margin. Now, many mortgage lenders have just stopped lending completely. Banks are buggers, really, because when you don't need the money, they'll throw it at you, and when you want and need the money, they won't lend it to you. It's typical banks, but many mortgages have stopped lending. People's interest rates on their mortgages are going up and up and up and could even be doubling. Now, people are talking about the grand rising, the Great Reset, the New World Order— all part of the plan. I'm not sure this really has much to do with that. By the way, if you want to discuss that, let me know in the comments. I'm always open to discussion. Now, most people are already on the edge in this cost of living crisis where their food, their energy, their fuel, their bills, and their cost of living is the highest it's been relatively since the Second World War. So many people are already on the edge. So as these rates go up and the fixed rates go up even more, and now we're back to where rates were just before the last crash, I've been saying this for a little while. I think a crash is coming. I think it's going to be big. I think it's going to be deep. I think it's going to be long. So let me know what you think. Do you think a crash is coming? Do you think these increasing and increasing and increasing mortgage rates are going to kickstart a housing crash? And how much do you think it will be, and for how long? So looking at the last video I did, my viewers thought between 15% and 60%. This were their predictions for how much the housing market will drop. I don't think it'll be 60%, but I also don't think it'll be 15%. Now, none of us can predict accurately, but we can certainly make our estimations. I actually think the crash will be bigger and longer than 2008. And some people are like, I could never be as bad as 2008, that was nearly 30%. But yeah, we had a banking debt crisis in 2008. But we've had Brexit, lockdowns, COVID, the £500 billion thrown at lockdowns and PPE and track and trace apps and energy cap guarantees and all these things. I mean, £500 billion, that's got to be paid back. Um, of course we had the cost of living crisis, the energy crisis, soaring inflation, soaring taxation, and now soaring interest rate rises. It's a shitstorm. Telling me it's not gonna be as big as it was in 2008? I predict a riot. I just think it's going to be bigger. Now, by the way, I'm not creating it, I'm not controlling it, I don't rule the world, so it doesn't benefit me either way to say if it's going to be big or not big. I just— that's what I think from all the evidence that I've seen. Now, you can get ready for this, by the way, and you can actually see the upside opportunity. Every downside has an upside. Every action has an equal and opposite reaction. And in every stressing hides a blessing. These rules are rules of life, not just rules of money and mortgages and interest rates. So let me say that again: every downside has an upside, every action has an equal and opposite reaction, and in every stressing hides a blessing. So I'm going to give you a couple of solutions in a moment, just a quick summary. Is that mortgage rates are now the highest since the last recession. They've just peaked up over what they were in 2008, right before the crash. They're now 6.07% for an average fixed-rate mortgage. They were less than 3% just 10 months ago in December. So that is a soaring increase in fixed-rate mortgages. This means new mortgages are really expensive, relatively, and also existing interest rates that are going up are pushing up the variable-rate mortgages as well. Many people's mortgages, that their repayments could go up 50% or even 100% depending on where interest rates go. Many people aren't on a fixed rate are at risk of interest rates soaring up, and people's living costs are already on the edge anyway. So I predict longer, deeper, harder, and bigger correction in property prices than the last 2008 recession. And we've almost come full circle in where mortgages are now because interest rates have been so low for 12 years, and now the mortgage rates are the same as they were just before the crash. So you need some solutions to this. So solution number 1 is don't get ready, be ready. And that is to— why don't you go out and do some viewings? Because if interest rates go up, it will force repossessions because people won't be able to afford their repayments, and then you might be able to pick up a cheaper home to buy as a first-time buyer, or you might be able to pick up an investment property or two at a better return. Right, when the market peaks, when it's at its highest point, the yields, the returns are hard, they're low. Even getting mortgages for the rental coverage you need is hard. But as the prices correct and go down, the returns get better. And actually you're going to be able to probably buy better assets at better prices with better returns. Um, house prices for sure are going to correct. I've been asking in the comments for your thoughts. My, um, viewers, community members, you— I don't like to say fans because you're not all my fans that watch— um, have said between 15% and 60%. I don't think it'll be 15%, I think it'll be more. I don't think it will be 60, I think it'll be less, but none of us know. But let's discuss. It's coming though, it's getting closer and closer and closer. That seems to be a reality. So what you've got to do is go out there and view some properties and get known with the estate agents, because when prices go, they'll go quick and they'll go hard, and you want to be ready then. Um, and maybe start putting in some lower offers, start getting into real estate and property now. Don't wait to buy property, buy property and wait. And a lot of people are waiting because I just want to wait till the market corrects, but by the time it moves, you're too late. So you want to protect your capital and your cash. Don't have it in the bank— as minimum amount in the bank as you can afford— and protect your depreciating cash and put it into appreciating assets. This could be the best time to buy since 2008. In 2008, I was buying properties between £35,000 and £70,000, which are now worth between £200,000 and £250,000. So they've not just doubled in 12 to 15 years, they have more than doubled in 12 to 15 years. And I think that we're going to get the best buying environment for buying assets and properties at a good price with a good return. I think this is going to be the best buying opportunity since 2008 once the market corrects. So you've got to get yourself educated in property. You've got to, um, maybe start putting some of your investment capital together to buy an investment property. It might be a better time to get on the first-time buyer housing ladder. Learn about assets. Learn how to invest. Learn how to protect your cash and put it into an appreciating, inflation-beating asset, uh, and make, manage, and multiply your money in this great buying opportunity that is coming. So if you'd like to learn how to do this— make, manage, and multiply money— if you'd like to learn how to invest in assets that produce recurring income, protect your depreciating capital and put it into appreciating assets and get better financial education and knowledge that they don't teach you in school and the system don't want you to know. I recommend you join Rob.team. Now, Rob.team is my financial education platform, and when the lockdown happened, I scaled it up and I stopped charging hundreds of dollars for various online courses, and I put them all into Rob.team for less than 20 pence a day. Can't, can't ask for fairer than that. Me doing my bit to help you. So if you open up a new page on the internet and you type in rob.team, rob.team, you can join my financial education platform for less than 20 pence a day, no ongoing contract, cancel anytime, hundreds of hours of content going back since pre-lockdown. But it was the lockdown where I decided to put all of these otherwise paid-for masterclasses inside rob.team for less than 20 pence a So grab this opportunity. Don't wait to buy property, buy property and wait. When all is said and done, more is said than done. So go and join Rob.team. Lisa's got the link, right? She's put it in the comments, or you can just open up a page and type R-O-B dot T-E-A-M. Now, many of you are already members because I've got many thousands of members, but I've got some new things that I'm adding into Rob.team that I think you'll love. First one is this coming Sunday, we're doing a Sunday session on how to raise money to buy property. So there's going to be a 45-minute plus Q&A session on how to raise money so that you can get into property and take advantage of the upcoming recession, correction, depression, or crash. Time will tell what it is, but you need to be ready. So if you don't have capital or you don't really think you've got deposits but you'd like to get into property and take this opportunity, there's going to be a Sunday session for you there. You're going to love that. So if you go and join rob.team right now, you'll be able to get that as a live masterclass. We've also got the 9-hour— no, the 9-module, 10-hour How to Invest series. So I actually did a 10-hour How to Invest series with my business partner. How to invest in property, how to invest in stocks, how to invest in gold and precious metals, and start your business. We covered 9 asset classes. And also, whether you've got a grand or a million, and any stage in between— a grand, 5 grand, 10 grand, 20 grand, 50 grand, 100 grand, 200— any stage between a grand and a million, we give you a deep dive live module masterclass on how to invest no matter how much money you have or don't have. And this is the 9-module, 10-hour How to Invest series. This is also in Rob.team. So a couple of brand new masterclasses coming up or already in the platform. Platform which will really benefit you to protect your capital, to learn to be an investor, to create multiple streams of recurring income, physical assets and digital assets, and take advantage of what will be a great buying opportunity. But you have to take the opportunity. Um, it's never too late to start, it's always too late to wait. So open up a new web page, type in rob.t— eamrob.team. Go join right now, less than 20p a day, because I reduced all the prices to zero of the masterclasses when lockdown happened, to do my bit to help as many people as possible. You can cancel anytime, no ongoing contract, and the content goes back years. There's hundreds of hours of masterclasses on making, managing, and multiplying money, getting better financial education and knowledge, starting and scaling a business, having a side hustle, becoming an entrepreneur, getting your income up, getting your taxation down. These masterclasses are all in Rob.team. Now it's interesting, as you go and join Rob.team, think about cycles and how they, um, basically return to where they were. And it's, um, serendipitous because in 2008, when mortgages were the same as now they are again, the market crashed and I bought the cheapest, best deal properties I've bought ever. I was buying 3-bed houses for £35,000. That's not going to happen again. I was buying 3-bed houses in better areas for £70,000. That's not happening again. Um, and looking back now, they were— that was the best year to buy and the cheapest deals ever. And relatively speaking, the next round of the cycle, the best deals to be— to buy at the cheapest prices will be in the first year of when the crash hits the bottom. And that could be coming up really soon and you need to be ready. Don't get ready, be ready. The more you learn, the more you earn. And don't wait to buy property, buy property and wait. So join Rob.team, go and get this masterclass that's coming up in a few days' time on how to buy property and how to raise money for property. And also the 9-module, 10-hour How to Invest series. I've also got a surprise for you as a Rob.team member. Because we have a really special 3-day event called Multiple Streams of Property Income, and any Rob Dot Team member can get a VIP upgraded ticket completely for free with your Rob Dot Team membership. I own the UK's largest property training company. I'm one of the biggest, um, private residential investors in the UK. I have 1,350 tenants now, got the biggest property management company there or thereabouts, top 2 in the city, and got hundreds of properties, high 8-figure portfolio, 7-figure net income. So I can help you start and scale your property investing business and journey, whether you want to be part-time, full-time, or big time, whether you just want a little portfolio, something for your retirement, or, you know, you want to be a proper investor. So go join rob.team right now. Type in rob.team. So mortgage rates are the highest they've been since the last recession. A fixed rate is now 6.07% on average. It was less than 3% in December, and it's now as high as it was just before the last recession. Is that an indicator that the property market is on the verge of a crash? Mortgage rates are huge, and, um, compared to where they've been for the last 12 years Affordability for mortgages is really hard for most people who are already on the breadline anyway because of the cost of living crisis. And we might not be at the end of this. Interest rates probably have got more to go up. I'm sure you'd agree with that. So it is a great opportunity. And by the way, people think, well, I'll wait till the market crashes and I'll wait till it gets to the bottom of the market. That's too late. It's too late. It's like, you know, steering the oil tanker. You have to steer it in advance of where you want it to go, not wait until you're there and then steer it. So you need a few months at least before the market crashes to go and view properties with estate agency, to get yourself educated, and to be ready and well positioned. And that time might be now. And Rob.team can teach you how to do, how to do all this stuff. So go join for less than the cost of a large cup of coffee a month, less than 20 pence a day, cancel anytime. No ongoing contract. So basically you can come in, consume all the content, catch up with me, and then cancel if you want. Good luck catching up with all the content we've got in Rob.team, by the way. So one final question for you: when do you think the correction in the house market is coming? Um, do you think it's going to be a correction or a bigger recession or a deeper depression? What percentage do you think it's going to drop? Some people on my lives say 15%, some people on my lives say 60% or more. I would love your thoughts. Let's get the discussion going and let's support each other in taking advantage, you know, not just surviving but thriving. And, um, remember, in every stressing hides a blessing, and with every action has an equal and opposite reaction. So there's going to be some big upside for you in this downside of the economy if you are well positioned and educated to get it. So I'll see you in rob.team, and let's help you learn earn and invest, make, manage, and multiply your money, and create multiple streams of recurring income, observing the masses and doing the opposite. Thanks for tuning in, and remember, if you don't risk anything, you risk everything.