Some mortgage interest rates coming down: Surprising news

Over the past few months a major topic on this blog has been about interest rates rising: remember, the Reserve Bank increased the official cash rate earlier this month as well as in November and December last year, with predictions that there could be several more increases over the course of the rest of 2010. And as you'd expect, banks and other lenders generally followed suit, with some major banks raising rates by even more than the Reserve Bank did. But here's the good news for those of ...
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Houses are getting more expensive, maybe mortgages won’t

If you're in the market for a new house at the moment, you may have noticed that prices just keep rising, in pretty much every part of Australia. And unfortunately that's not just a problem for first home buyers like I mentioned a few weeks back. With a 13.6 per cent rise in the average price of a house last year, even the Reserve Bank is warning that housing prices could continue to rise, and that's not good news if you're looking to buy. On top of that, the shortage of new homes being built...
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Australians love mortgages much more than 20 years ago

Having a mortgage is cool. Or it must be, because the trends show that we Australians are much more in love with mortgages than we were two decades ago. Reserve Bank statistics on mortgage debts, which they only began to record in 1990, show that our thirst for mortgages has been increasing at a rapid pace. Who would've thought that this thing we complain about so often is actually something we can't get enough of? The mortgage statistics are kept both for those of us who have a home loan for...
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New Reserve Bank rise means we’ll pay more on our mortgages

This time round, sadly, the Reserve Bank hasn't surprised us: at this morning's March meeting the powers that be announced that they would be raising the official cash rate by 25 points to 4.0 per cent, effective from tomorrow. After the surprise announcement in February that the cash rate wouldn't rise - despite pretty much everyone in Australia being certain it would - the Reserve Bank has continued with the expected trend of having several rate rises during this year and now we're going to ha...
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Mortgage repayment problems on the rise

Are you one of the increasing number of Australian home loan holders who are having problems making their mortgage repayments? Apparently the number of people getting into trouble with their mortgages is on the rise, according to data released earlier this week. Not only that, the prediction is that it's only going to get worse. Thanks to the effects of three interest rate rises and the Christmas spending season, the number of people who are in arrears on their home loan repayments by more th...
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Banks warned not to raise our mortgage rates again

I may not always be a big fan of politicians - from any party - but any politician who tells my bank not to raise my mortgage interest rate has got to be okay in my books. That's what the federal treasurer Wayne Swan has been saying this week after a big government announcment on the ending of bank funding guarantees. These government guarantees, which were set in motion during the global financial crisis, were the Australian government's way of helping our banks and other lending institution...
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Generation Y can pay mortgages, no problem!

With mortgage interest rates starting to rise, a lot of people are starting to think about buying their first property or upgrading to their next home. With a good chance that interest rates will rise again before Christmas, the media is getting on board too with plenty of surveys, advice and features about who will be buying, where, and how they will afford to pay their mortgage back. An interesting story to come out in the Sydney Morning Herald this week reports on a survey of Generation Y ...
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The RBA and Interest Rates

When considering a new home loan or changes to your existing mortgage one of the first considerations is the interest rates on offer. But what about the future direction of interest rates? For that we need to learn about an organisation called.... The Reserve Bank of Australia (RBA) is the Central Bank 1 that controls the cash rate 2, which in part controls the interest rate charged to consumers by lending institutions for credit products including mortgages and home loans. (more…)
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