Can I just say that I am pleased that the mortgage lenders have reduced their rates of interest. However, and I feel the need to inject a minor note of concern here, the most important thing is that mortgage rates continue to be reduced over the next few months, leaving us with rates at a minimum from the spring through to at least autumn 2009.

This is for a number of reasons; obviously we can’t expect to come out of a recession overnight and it is important that the markets are managed in a sensible, steady manner: we shouldn’t attempt to try and fix them overnight, because that would risk making it worse.

However, it’s mostly because I’ll need to get a new mortgage deal in 2009, so I’m hoping that the rates will be as low as possible at this time.

*note that the above headline also assumes that I am a key economist, which some people may dispute.