Home Loans & Mortgages

There is a lot of speculation on Australia’s home loan interest rates, both here and in the US, that Australia’s wonderfully low unemployment rates and growing business investment will mean RBA will have to lift its interest rates, and how that will affect the housing market.

There has been a lot of talk over the last year about the major banks, headed by the Commonwealth Bank, looking for ways to jack up home loan interest rates independent of rate rises by the Reserve Bank of Australia. The major four banks in Australia all posted record profits last year, and want to continue this trend with increasing lending costs since the Government removed its guarantee given to major bank when the Global financial crisis hit.

Queensland banking, insurance and investment financial services group Suncorp is losing value quicker than the Zimbabwe currency, so Mr Mortgage said that it must be relieved that another bank actually wants to buy it. Suncorp said today it has had several approaches by parties interested in buying its banking and funds management operations. Speculation has been [...]