Interest rates have gone up again
Feb 5th 2008, 11:32 am
#31
Lost in BE Cyberspace
Joined: Oct 2005
Location: Hill overlooking the SE Melbourne suburbs
Posts: 16,622
Feb 6th 2008, 6:37 am
#32
BE Enthusiast
Joined: Apr 2006
Location: Upper kedron
Posts: 409
Re: Interest rates have gone up again
Maybe, maybe not. Prudent financial planning would have involved factoring in potential rate rises when assessing affordability for a mortgage.
I'm not entirely sure that I have a great deal of sympathy for people that have mortgaged themselves to the maximum of their current ability to pay and then complain when the rates rise. This is how the American subprime debacle has started - people borrowing far more than they can realistically afford to repay.
S
I'm not entirely sure that I have a great deal of sympathy for people that have mortgaged themselves to the maximum of their current ability to pay and then complain when the rates rise. This is how the American subprime debacle has started - people borrowing far more than they can realistically afford to repay.
S
Feb 6th 2008, 6:43 am
#33
(It's not my real name)
Joined: Sep 2002
Location: Ilukapool. WA
Posts: 12,467
Re: Interest rates have gone up again
Cool, are you off to the states? I'm toying with the idea of going back to the UK via the US and catching up with friends and family in Chicago and New York.
Feb 6th 2008, 7:11 am
#34
BE Enthusiast
Thread Starter
Joined: Jan 2008
Location: Bris
Posts: 564
Re: Interest rates have gone up again
If you can't afford a mortgage in Austarlia I suggest you go to uni and get a degree in engineering. Forget the fluffy degrees you can now get in a cereal packet such as teaching, Human Resources and law. Add some real value to a business and you will be handsomely rewarded.
Or
Give up the booze, ciggies & take away and you'll have heaps of mulla.
Or
Give up the booze, ciggies & take away and you'll have heaps of mulla.
Feb 6th 2008, 7:18 am
#35
BE Forum Addict
Joined: Apr 2007
Location: Brisbane, Australia
Posts: 3,521
Feb 6th 2008, 7:53 am
#38
BE Forum Addict
Joined: Jul 2005
Posts: 1,808
Re: Interest rates have gone up again
Maybe, maybe not. Prudent financial planning would have involved factoring in potential rate rises when assessing affordability for a mortgage.
I'm not entirely sure that I have a great deal of sympathy for people that have mortgaged themselves to the maximum of their current ability to pay and then complain when the rates rise. This is how the American subprime debacle has started - people borrowing far more than they can realistically afford to repay.
S
I'm not entirely sure that I have a great deal of sympathy for people that have mortgaged themselves to the maximum of their current ability to pay and then complain when the rates rise. This is how the American subprime debacle has started - people borrowing far more than they can realistically afford to repay.
S
They dont feel so bad about the mega-sized plasma TV they bought 18months ago as the model has been superceded....
WW
Feb 6th 2008, 12:20 pm
#39
Moved out bush!
Joined: Nov 2003
Location: Chittering WA
Posts: 1,093
Re: Interest rates have gone up again
You forgot to mention the 2 new vehicles (a V8 sports and a LWB Landcruiser to tow the new 5.5m boat) they had to buy on HP to keep up the appearance of their new lifestyle glamour house.
They dont feel so bad about the mega-sized plasma TV they bought 18months ago as the model has been superceded....
WW
They dont feel so bad about the mega-sized plasma TV they bought 18months ago as the model has been superceded....
WW
I personally am not bothered by the rate rises, its not worth worrying over unless it goes into the realms of Aussie fantasy. If you need to buy you haven't got much choice really.
Jenny
Feb 6th 2008, 12:48 pm
#40
BE Enthusiast
Joined: Nov 2007
Location: Helensburgh...the proper one in Scotland
Posts: 947
Re: Interest rates have gone up again
Feb 6th 2008, 2:07 pm
#42
Forum Regular
Joined: Jan 2008
Posts: 40
Re: Interest rates have gone up again
Feb 6th 2008, 8:50 pm
#43
Frequent Flyer Member
Joined: Jun 2007
Location: Melbourne
Posts: 10,994
Re: Interest rates have gone up again
Other than that the labour market is tight as and real estate is still generally increasing in value too rapidly....some heat needs to be taken out.
Feb 6th 2008, 10:14 pm
#44
Go the BNE Roar
Joined: May 2003
Location: Northside
Posts: 1,590
Re: Interest rates have gone up again
Nice to see that interest rates went up 0.25% and then the Comm Bank put their variable rate up by 0.3% they really are robbing bastards!
Feb 6th 2008, 10:16 pm
#45
has lost The Game
Joined: Apr 2005
Location: Chippendale, Sydney
Posts: 8,735
Re: Interest rates have gone up again
Yes, they really are aren't they? The way that they carry on, I don't understand why anybody banks with them.
S