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

The top stories for the week ending 24/02/08:

Mortgage crisis hits wealthy east (more…)

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• Australians love mortgages much more than 20 years ago
• New Reserve Bank rise means we’ll pay more on our mortgages
• Want to be a first homeowner? Affordability study says you’re too late
• Mortgage repayment problems on the rise
• Banks warned not to raise our mortgage rates again

In November 2007 someone came to the nation and spoke directly to the heart string that’s connected to the hip pocket of the average Australian – “working families that I talk to right across this country of ours say to me they’re under real financial pressure, from rising interest rate payments on the mortgages, from soaring rents, soaring grocery prices, petrol prices and of course the cost of child care as well.” (more…)

Possibly Related Posts:

• Australians love mortgages much more than 20 years ago
• New Reserve Bank rise means we’ll pay more on our mortgages
• Want to be a first homeowner? Affordability study says you’re too late
• Mortgage repayment problems on the rise
• Banks warned not to raise our mortgage rates again

Almost as expected, at today’s RBA meeting the board has moved to increase the cash rate from 6.75% to 7.0% in the fight against inflation within the Australian economy. Prior to the meeting a raft of pleas from union leaders, community groups, government and opposition members asking the RBA to consider negative ramifications on those that are currently under mortgage stress and financial pressure. (more…)

Possibly Related Posts:

• Australians love mortgages much more than 20 years ago
• New Reserve Bank rise means we’ll pay more on our mortgages
• Want to be a first homeowner? Affordability study says you’re too late
• Mortgage repayment problems on the rise
• Banks warned not to raise our mortgage rates again