RichS

Now guys you're just teasing me.

I'd really like to get out of syd, but my work in the banking/finance IT area is pretty restrictive (I don't really fancy Melbourne having visited a couple of times).

I need to find a job in qld with nsw wages I think.

janeyray

[QUOTE]Originally posted by MrsDagboy
You think 6% is high, Janeyray?

It is compared to what I was paying in the UK (ok everyone, yes I'am comparing)


The increased rates will put at least $30 a month onto our mortgage, which is a lot of money for people on average wages. we paid a 50% deposit on our house so will be ok if the rate goes up further.

There goes my dream of paradise

Vicky88

I can remember back in 1991 when I was paying 18% interest on my mortgage. However if someone wants to make the effort I am sure that the rate of inflation at that time was a lot higher than it is now.

I might sound heartless but I feel very little sympathy for those who have speculated on property and overstretched themselves and may lose it when mortgage rates rise. Most of these people have chosen to ignore the warnings which have been blaring in the media for some time now. If people are foolish enough not to have enough money in the bank to get them thru the hard times having spent it speculating on property well stiff shit.

As for the 100% mortgages, well they are also on offer in the UK so it's not an Australian invention.

deedee

our neighbour told us when we met him that in the 80's he was paying 30% on his morgage for his farm He luckily had a very rich family member to bail him out.Times have been very hard here in NZ 20 years ago i think.

dotty

I cant see how anyones in any trouble yet anyway, if people in OZ feel they cant handle rising rates they can go into the bank and Fix the rate!!

People panic, look at the english market its been crashing for two years according to the media! still waiting for me bargain tho, where is it

Jirrupin

I guess this small interest rise and the others that are expected over the next few months, will badly hit the first time buyers who have had to stretch themselves to buy their first home. Albeit foolish some people just don't have the luxury of money in the bank.

For those speculating as an investment, well that is a different ball game and it can go both ways, so you have to take the rough with the smooth.

steandleigh

LOL!!!!