I was calmly enjoying my cornflakes the other morning when the news headlines jumped out at me and nearly caused me to choke.
Homeowners are being warned to brace themselves for a steep interest rate rise amid growing concerns over the booming property market in the UK.
The Council of Mortgage Lenders, which represents banks and building societies, said a worst-case scenario could lead to a doubling of rates in order to cool rising house prices.
I can well remember the very high rates we had a number of years ago and I certainly wouldn’t like to have that experience again. I wasn’t the only person to get excited, the newspapers were having none of it.
The Daily Mail calls it a bombshell, predicting a summer of discontent.
The Daily Express speaks of panic saying debt-ridden borrowers would be plunged into financial crisis by higher rates.
Thankfully the Council of Mortgage Lenders dismissed the reports that it is calling for mortgage rates to double to prevent a house price crash. It said it anticipated that rates would rise, but only to 5.25% by the end of the year, compared with the current base rate of 4.5%.
For most of us, our home is our largest investment and we are understandably concerned when we feel it is threatened in any way. We would do everything we possibly could to keep our homes.
The Lord Jesus once likened you and I to houses that are being built. He mentions two different scenarios.
We read about a wise man first of all.
Matthew 7:24 "Therefore whosoever heareth these sayings of mine, and doeth them, I will liken him unto a wise man, which built his house upon a rock"
The wise man is building on a rock, which is a solid and safe foundation.
Matthew 7:25 "And the rain descended, and the floods came, and the winds blew, and beat upon that house; and it fell not: for it was founded upon a rock"
No matter what, the house built on the rock stood the test and was safe. The Lord then mentions the second scenario.
This man is a foolish man as he built his house on the sand. It was a lousy foundation!
Matthew 7:27 "And the rain descended, and the floods came, and the winds blew, and beat upon that house; and it fell: and great was the fall of it"
Instead of being safe this man perished.
I wonder are you as concerned about the spiritual house as the material house?
What foundation are you building on?
Some build upon a church but that is not the foundation you need.
1 Cor. 3:11 "For other foundation can no man lay than that is laid, which is Jesus Christ"
Christ is the foundation you need to be absolutely safe and secure for time and for eternity.
Listen to the words of this well known hymn.
Are you SURE that you have your place booked in Heaven? Read this if you're not!