Rates up again

Discussion in 'Real Estate' started by Jacque, 4th Mar, 2008.

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  1. Jacque

    Jacque Jacque Parker Premium Member

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    More pain for home owners with the RBA lifting rates 0.25% yet again:
    the 8th rise since March 2005

    Using rate rises to slow the economy and in turn reduce inflation pressure obviously seems to work and it's no surprise that those areas in which first home buyers are already hurting will continue to do so.



    Rate rise 'a double blow' - National - smh.com.au
     
    Jacque, 4th Mar, 2008
    #1
  2. Brendan__

    Brendan__ Member

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    Not so great.. how long do we think the rises will continue, especially now with the downturn in the markets?
     
    Brendan__, 4th Mar, 2008
    #2
  3. The Stig

    The Stig Well-Known Member

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    Did they mention the possibility of another rate rise in May?
     
    The Stig, 4th Mar, 2008
    #3
  4. FirstBuild

    FirstBuild Well-Known Member

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    Bah that sucks, banks will lend me even less :(
     
    FirstBuild, 4th Mar, 2008
    #4
  5. TryHard

    TryHard Well-Known Member

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    I hadn't really grasped it before that the resources boom makes it virtually impossible for the RBA to get inflation in their target range because of the additional income from the resources boom. We're screwed :p

    I can't see them not raising it at least another .25% in the next few months ... RBA is saying their 'tough stance is starting to work' - I think they want everyone well and truly beaten before they are happy :) - from Lateline "There is tentative evidence that some moderation in household demand is beginning to occur".

    We are also apparently experienced record defaults and bankruptcies according to Lateline. Maybe that will be enough to placate them for a while. Sigh.:rolleyes:
     
    TryHard, 4th Mar, 2008
    #5
  6. crc_error

    crc_error The Rule of 72

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    crc_error, 5th Mar, 2008
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  7. TryHard

    TryHard Well-Known Member

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    Only in the world of banks can .25 = .40 :(
     
    TryHard, 5th Mar, 2008
    #7
  8. crc_error

    crc_error The Rule of 72

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    I wonder what Kevin07 will do about it!
     
    crc_error, 5th Mar, 2008
    #8
  9. Tropo

    Tropo Well-Known Member

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    Australian Interest Rates.
     

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    Tropo, 5th Mar, 2008
    #9
  10. Brendan__

    Brendan__ Member

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    So far there is only a 30% prediction of rates rising in May..
     
    Brendan__, 6th Mar, 2008
    #10
  11. Jacque

    Jacque Jacque Parker Premium Member

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    Well now I'm glad I fixed my Adelaide bank rates a little while ago.... :D
     
    Jacque, 15th Mar, 2008
    #11