Rate rise threat fades as reserve bank chief gives forecast
http://enewsletters.f2network.com.au/cgi-bin16/DM/y/eVD30Ca2Z0Bhi0ynU0Al
If anyone hasn’t as yet subscribed to the free email news service from the Reserve Bank of Australia I strongly suggest you do so.
That is if one wants to keep an eye on the overall picture.
Pisces133
The article is almost a month old now. Much has changed since then. Nov was still highest month for loans.
I still think there will be another increase in Feb 2004. As the article says ‘nip it early in the bud – so higher increases are not necessary later’
Cheers
Andrew
I love the way people keep talking things up… [
]Anyone who believes property is not on the slide is kidding themselves, particularly in Sydney and Melbourne – I think the interest rates still have at least another 1% rise to come in the next six months, hopefully some sanity might return to the market then…
Cheers,
Paul…“I want to be rich, and stupidly happy – so far i’ve only managed to achieve the stupid part…”
Hi Guys,
Lets just wait till February 4th, to hear what the RBA says….
“It has been decide that the RBA will ……………………. “
cheers,
s.i.sFatboy,
Did you see the article in one of today’s sunday newspapers? It was about the Top 100 suburbs in terms of cap growth in nsw. The right-hand column had predicted cap growth rises for 2004. Seems that the source (propertyvalue.com.au, I think- haven’t got the newspaper on me now) doesn’t seem to believe it’s all over yet. Growth is still expected to be in double figures for many of the suburbs mentioned.
kay henry
Despite the catchy headline in my post the post’s
purpose (main purpose if you like) was to bring to everyone’s attention that one can onbtain free access to the thoughts, as expressed in different talks, of the Reserve Bank’s heavies.Pisces133
Yes Kay, i saw it – didn’t believe it though… [
]Pisces – Sorry mate, my post wasn’t intended as a shot at you… [
]Buying property at the moment is like playing roulette – it could end up being red or black. Hmmmm….
I think things will be a lot clearer by next Christmas, my biggest problem is worrying whether or not to grab something now that i’m keen on. Bit like trying to decided which horse to bet on unfortunately… [
]Cheers,
Paul…“I want to be rich, and stupidly happy – so far i’ve only managed to achieve the stupid part…”
Take this as you will but St George has just dropped their 3 and 5 yr fixed rates as at yesterday to 6.95%.
Cheers,
Simon Macks
Mortgage Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Mortgage Hunter,
Are “the banks” trying to entice people to fix their rates as they “know” the variable will remain as is or drop???
Spider
I expect that there will be a rise in Feb. My reasoning is that there was record Christmas spending in December.
I think that the fixed rate drop is a correction on a knee jerk reaction a few months ago. Whilst I believe that we are in for more rises, I don’t see them going up too high in the coming year.
Spider,
Fixed rates are a balance between trying to be competitive in the market and also to ensure that the bank makes money over the term. There is a measure of speculation by both parties but generally the banks call the shots as they set the rate.
So why are they edging down a little in some cases? The banks experts are trying to find that balance. They also probably feel that a rate rise may not be as imminent as they did think last month.
Having said that most banks haven’t dropped their rates.
Cheers,
Simon Macks
Mortgage Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Did anyone read the article by evan thornley in the last BRW of the year?
Interesting comments on his thought about the fact that the economy is booming mainly on consumer debt and that it is going to end poorly.
I think that this is one of the things that the reserve bank is worried about so rates will probably go up.
Josh
PS thanks for the info on the nnewsletter. Just signed up.
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