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RBA raise rates by 0.25%

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

  1. Jacque

    Jacque Team InvestEd

    16th Jun, 2005
    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.