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Economic Statistics

Volume 454: debated on Wednesday 6 December 2006

To ask the Chancellor of the Exchequer what (a) interest and (b) mortgage rates were on 2 May 1997; and what they were in each case on the most recent available date. (106433)

The following table gives the requested information. Note that “mortgage rate” refers to the average building society mortgage rate.

Percentage

2 May 1997

Most recent

Bank of England base rate

5.94

5.00 (30 November 2006)

Mortgage rate

6.98

5.22 (September 2006)

To ask the Chancellor of the Exchequer what the (a) highest and (b) average mortgage interest rate (i) was between 1992 and 1997 and (ii) has been since 1997. (106681)

The following table gives the requested information. Note that “mortgage rate” refers to the average building society mortgage rate.

Percentage

1992-97

Since 1997

Highest mortgage rate

11.38

7.99

Average mortgage rate

8.10

5.91