Tis official - another rate rise this morning.
#1
Thread Starter
Joined: Feb 2002
Posts: 721
Tis official - another rate rise this morning.
http://www.theage.com.au/news/busine...329265043.html
Official cash rate now at 6.75%, the highest in 11 years.
That will be another 50 bucks a month on the mortgage :-(
It won't stop there though, get ready for another 2 in the next year !
Official cash rate now at 6.75%, the highest in 11 years.
That will be another 50 bucks a month on the mortgage :-(
It won't stop there though, get ready for another 2 in the next year !
#2
Re: Tis official - another rate rise this morning.
http://www.theage.com.au/news/busine...329265043.html
Official cash rate now at 6.75%, the highest in 11 years.
That will be another 50 bucks a month on the mortgage :-(
It won't stop there though, get ready for another 2 in the next year !
Official cash rate now at 6.75%, the highest in 11 years.
That will be another 50 bucks a month on the mortgage :-(
It won't stop there though, get ready for another 2 in the next year !
#4
Re: Tis official - another rate rise this morning.
Great stuff. I hope they keep going up. Hopefully they will cause a house market crash and I can pick up some of the pieces when it's over.
#6
Joined: Nov 2006
Posts: 2,225
Re: Tis official - another rate rise this morning.
The recent rate rises in NZ certainly took the heat out of the market and I'm sure asking weren't as high as they would have otherwise been. I can see the same happening in Oz - may be more marked too because of additional expenses such as stamp duty.
We're in no hurry to buy anything, I think we're just going to invest our money, rent for a while and wait to see if prices come down. (The thought of no DIY for a few months really appeals )
As you say - good news for savers but rotten if you've got a mortgage.
We're in no hurry to buy anything, I think we're just going to invest our money, rent for a while and wait to see if prices come down. (The thought of no DIY for a few months really appeals )
As you say - good news for savers but rotten if you've got a mortgage.
#7
Re: Tis official - another rate rise this morning.
Great! Gosh it feels good to be without a mortgage for once and now to see the savings rate increase too. Whoopeee!
#9
Lost in BE Cyberspace
Joined: Oct 2005
Location: Hill overlooking the SE Melbourne suburbs
Posts: 16,622
#10
Re: Tis official - another rate rise this morning.
Yes, but looks at the rising cost of oil/petrol also. That will be a major inflationary pressure which the Reserve bank will have to take steps to deal with. I don't think we have seen the last rate rise by a long shot.
S
#11
BE Enthusiast
Joined: Jun 2007
Posts: 423
Re: Tis official - another rate rise this morning.
most people in uk who dont work have plasma's .....
I dont understand the phenomon.....(no dictionary sorry)
#12
Lost in BE Cyberspace
Joined: Oct 2005
Location: Hill overlooking the SE Melbourne suburbs
Posts: 16,622
Re: Tis official - another rate rise this morning.
A mate overheard the Chief Economist for Westpac comment that all the rates are a cert yesterday at the cup.
#13
BE Enthusiast
Joined: Jun 2007
Posts: 423
Re: Tis official - another rate rise this morning.
Indeed. We could see rates go to 15pc or so - probably more- and we'd absorb them. We're fixed. I know people who refuse to fix figuring out the banks are always right and they'll win on the way down or by offset.
A mate overheard the Chief Economist for Westpac comment that all the rates are a cert yesterday at the cup.
A mate overheard the Chief Economist for Westpac comment that all the rates are a cert yesterday at the cup.
recession and market correction late 2008.... i reckon
#14
Thread Starter
Joined: Feb 2002
Posts: 721
Re: Tis official - another rate rise this morning.
RBA rate rise cycle may not be over
http://www.theaustralian.news.com.au...06-643,00.html
"We retain our view that there will be another 25 basis points rate hike on December 5, with a further move in the first half of 2008," Westpac chief economist Bill Evans said today.
#15
Re: Tis official - another rate rise this morning.
The recent rate rises in NZ certainly took the heat out of the market and I'm sure asking weren't as high as they would have otherwise been. I can see the same happening in Oz - may be more marked too because of additional expenses such as stamp duty.
We're in no hurry to buy anything, I think we're just going to invest our money, rent for a while and wait to see if prices come down. (The thought of no DIY for a few months really appeals )
As you say - good news for savers but rotten if you've got a mortgage.
We're in no hurry to buy anything, I think we're just going to invest our money, rent for a while and wait to see if prices come down. (The thought of no DIY for a few months really appeals )
As you say - good news for savers but rotten if you've got a mortgage.