The weekly recap of mortgage, home loan and housing news in Australia.

The top stories for the week ending 19/08/07:

Costello push on high-risk loans
Herald Sun
In light of the US sub-prime mortgage crisis the Australian Federal Government has expressed concerns over low doc loans that have led to a higher rate of home repossessions and unfair interest repayments. Treasurer, Peter Costello, is pushing the states to introduce laws to protect consumers. Lincoln Wright from the Herald Sun provides a wrap up.

…Continue Reading: Mortgage News Recap » »

Possibly the news that no home buyer wanted to hear was released today by the Reserve Bank.

After yesterdays meeting of the Reserve Bank Board the decision was made to increase the cash rate by 25 basis points to 6.5% with the Reserve Bank Governor, Glenn Stevens, citing a pick-up in the pace of growth in demand and activity.

The Full Release of the Statement by Glenn Stevens can be read online at the RBA web site » .

Ross Greenwood, Finance editor for National Nine News shares his views on the latest decision and the possible effects for new home buyers see the article online at: NineMSN News »

There are more views on the interest rate hike with commentary from the PM, John Howard, and Treasurer, Peter Costello, over at the TheWest.com.au and an article at ABC online which is receiving some passionate commentary from users.