Home Loans & Mortgages

After all Westpac has pulled itself from near bankruptcy in the early nineties to be a contender Australia’s biggest bank. Mainly at the cost of its mortgage holders, during the Global Financial Crisis, and the “Banana smoothie” scandal. [Free publicity is good publicity, and who doesn't like a banana smoothie Gail, right?] So there’s a missed branding opportunity. “The Banana Smoothie Bank”. [smoothie in more ways than one it would seem]

So now the Reserve Bank only has to sit on its hands a wait till things change, and maybe the big Banks will make good on their talk and raise their customers mortgage rates without the cover of an official rate rise.

Why First homebuyers aren’t buying? Affordability!

During the last 10-year period, house prices have risen highest in Perth and Brisbane, where home prices for a new home have nearly trebled over the past decade. That is making homes unaffordable for first home buyers. Especially with talk of higher interest rates

Many financial experts are saying that there is a 50% chance that mortgage rates will rise on the back of the RBA raising the official interest rates when it meets on the 5th October 2010.
Others say a rise is more likely in November or December. The NAB has recently changed sides and now says that rates could rise in October [after earlier saying February 2011 was the right time to move on rates. So Mr Mortgage is feeling a bit lonely but still sticking with the few remaining experts and savvy investors that say Feb 2011 is the time the RBA will raise interest rates.

Bank Customers sue 12 Australian Banks en masse on fees and charges
Behind Australia’s Banks’ Record profits there is a swindle going on. Stealing cents to $60 everyday from people, young and old using bank fees and charges. But are they legal. Its a tidy little earner when you have millions of accounts to milk.