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It seems the election has slowed things down and the Reserve Bank are in a holding frame of mind. All the economic indicators are showing that growth may be slowing and interest rates are likely to remain on hold for a little while.

Fear in the US of a double dip recession could be on the cards but most econimists are predicting a slower economic recovery rather than another dip.

As mentioned in a earlier post, it seems the Banks are determined to increase interest rates beyond the RBA’s recommendations. Commonwealth Bank after reporting a record profit announced that future rate rises are likely and other banks have not counted themselves out. I am not sure why they have to slug their customers for increased profit; however, one major lender has committed to keeping rates in line with the Reserve Bank.

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