The recap of this weeks mortgage, home loan and housing news in Australia.
The top stories for the week ending 4/11/07:
Laughing on the brink of ruin
Courier Mail
The economy is certainly on everyones radar at the moment and Tim Hughes, a director of Value Capital Management, points out that things might not be as rock solid as everyone would like to make out. There is also an article from Steve Burrell in the Sydney Morning Herald that’s worth a read too – see: How to cook an economy First, bring to the boil, then and also Costello warns of market ‘tsunami’ (ABC) and further to that is Could China Crash the US Dollar on a Whim? (Seeking Alpha) and if that’s not enough reading for you here is some more – Has The Credit Crunch Ended? which is a lengthy article worthy of a read.
Rate rises fail to dent home loan growth
The Australian
Tim Blue reports on statements from Deloitte, a financial services company, that despite the rate rises demand for home loans continues to grow and an expectation in growth of alternative mortgage products.
Wolf at the door
Courier Mail
Concerns continue to mount over lenders who prey upon people in hardship, offer dodgy mortgage-reduction schemes, or encourage borrowers, at a cost, into new products that are not necessarily better for them.
Rate rise may push some over the edge
Sydney Morning Herald
With the expectation of an interest rate rise the average mortgage repayment could go up by $60 a month according to Real Estate Institute of Australia (REIA) president Graham Joyce with SMH reporting that most will be able to handle higher interest rates although for others it may be the straw that breaks the camels back.
Australian Story: The Avenger
ABC Online
The ABC TV series featured a documentary on Neil Jenman, former real estate tycoon now consumer advocate. If you missed it on TV you can watch it online at the ABC site.
Other than that, perhaps naively, fingers crossed for the news on Wednesday morning!
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?
