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A drop in the number of new home sales in September may cause the RBA to hold off on a 0.50 per cent interest rate rise, and favour a smaller quarter-percentage point rise.
New home sales fell by 4.5 per cent in September 2009 following a strong surge in August, the latest Housing Industry Association (HIA) survey reveals.
HIA’s Chief Economist, Dr Harley Dale said there “was a late burst of sales from first home buyers in August ahead of the step-down in the first home buyers grant.”
“But the stimulus to new home sales from the First Home Owner Boost is ...
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Categories: News. Tags: Home Loan Interest Rates, Interest Rates, Mortgage Rates.
The housing industry has expressed concern over the Reserve Bank of Australia's move to lift the official cash rate by 25 basis points to 3.25 per cent, at it's board meeting today.
In a statement released shortly after the move, the Reserve Bank Governor Glenn Stevens said that housing credit has been solid and dwelling prices over the last six months had continued to rise.
The rate rise which is the first since March 2008, makes the Reserve Bank the first central bank in the G20 to raise interest rates in the wake of the global financial crisis.
“In late 2008 and early ...
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Categories: Home Loans and Mortgages, Interest Rates. Tags: Home Loan Interest Rates, Interest Rates, Mortgage Rates.
The number of mortgage holders switching to fixed home loan rates is on the rise as home owners spooked by the prospect that interest rates may have bottomed out and could rise, make the switch.
But although the number of fixed-rate loans hit a 10-month high in May, mortgage experts believe people are not panicking and it's too early to tell if the Reserve Bank of Australia (RBA) has finished cutting rates.
ABS data shows that fixed-rate home loans rose in May to account for 6.5 per cent of the home loan market, up from 4.2 per cent ...
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Categories: Home Loans and Mortgages. Tags: Fixed Home Loan Rates, Fixed Rate Loans, Home Loan Interest Rates, Interest Rates.
