The weekly recap of mortgage, home loan and housing news in Australia.
The top stories for the week ending 02/09/07:
Financial Aggregates – July 2007
Reserve Bank Australia
The RBA has released their monthly financial aggregates reports.
Reform of the ATM System in Australia
Reserve Bank Australia
The proposal involves liberalising access to the ATM (Automatic Teller Machine) system and making pricing more transparent to users of ATMs.
How to live with interest rate rises
Sunshine Coast Daily
Amber Werchon , an award winning real estate agent from the Sunshine Coast, shares some thoughts on minimising exposure to interest rate rises.
Aussie John’s cure for crisis
The Daily Telegraph
Home Loan lender boss, John Symond – Aussie Home Loans, has presented his own plans to the government on how to tackle a housing crisis. The plan would give first-home buyers a tax deduction of up to $4725 a year for five years on annual home loan interest repayments of $15,000. Mr Symond estimates a couple earning $40,000 each a year, who take out a $300,000 loan, would save about $400 a month on interest repayments in the first five years of their mortgage. Justin Vallejo, of the Age, has the full story.
Land controls at heart of housing crisis
Sunday Herald Sun
Alan Moran has an article sharing his views on the hot topic of housing affordability. Moran points to the numerous land restraint policies.
90,000 families feel stress of house costs
The West Australian
An article from Andrew Probyn points out that housing affordability in West Australia is much worse than first thought, with new figures showing there are 90,000 households suffering either mortgage or rental stress, regardless of area.
We’re spared US crisis: NAB chief John Stewart
Sunday Herald Sun
In the article National Australia Bank Ltd boss, John Stewart, shares his views on the US sub-prime mortgage crisis indicating the Australian economy is robust enough to ride out the turbulence. The Age features a story with commentary from John Stewart, posing the opposite see: More pain from US mortgage crisis to come. Stuart Washington, of The Age, also has an article on the US sub-prime crisis featuring commentary from a US economist warning that market conditions threaten to lead the world into recession- see: Worse than dud loans is the fear.
US – Bush Pledges FHA Help for Subprime Mortgage Borrowers
Bloomberg.com – US
An article By Roger Runningen and James Tyson, of the US Financial news site – Bloomberg, have an update on the US sub-prime and housing crisis with an overview of the new US Federal measures to rescue home owners and stabilise the market.
Possibly Related Posts:
- House prices rise and fall across Australia
- Mortgage news with election looming
- No interest rate rise after August Reserve Bank meeting
- Inflation figures may increase our mortgage rates
- Do we choose mortgages by interest rate alone?
