RBA raise rates by 0.25%

Discussion in 'Real Estate' started by Jacque, 4th Aug, 2006.

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  1. Jacque

    Jacque Jacque Parker Premium Member

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    As was widely expected, the Reserve Bank of Australia (RBA) again raised the Official Cash Rate (OCR) this week by 0.25% to 6% - now the highest since early 2001. This in turn is likely to raise the average home loan repayment by around $35 per month. Not enough to start hurting most home owners/investors yet but for those FHO's who took 100% loans and were getting by on the skin of their teeth three yrs ago, this will start to get shaky.
     
    Jacque, 4th Aug, 2006
    #1