Reserve Bank of Australia raises mortgage interest rates 0.25%
05/03/2012 
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RBA lifts interest rates 0.25%
The Reserve Bank of Australia raised mortgage interest rates by 25 basis points to bring the official cash rate to 4.0 percent.
Interest rates in line with market expectations
The interest rate move was inline with mortgage market expectations, unlike in February when it was widely tipped to raise the cash rate by 0.5%, but fooled the market experts by leaving the cash rate as it was.
What does this mean for the average mortgagor? If you are a homeowner with a $100,000 home loan mortgage you will be paying an extra $15 a month in interest repayments.
Major Banks promise no mortgage rate gouging
Australia's Big Four Banks promise no banana business
Australia’s big four Major banks, who have taken a bagging of late for moving their rates higher than the official rate increase, have promised to pull their heads in and only pass on the rate increase and no more. [We'll about about that].
Australia’s strong prospects for measured growth for the years ahead
With strong employment, strengthening real estate prices, a rebounding China economy, and the ongoing stimulus packages with infrastructure projects in the pipeline, Australia is in a great position to look to measured growth over the next 5 years.
Rick Adlam has been helping clients with home loan finance since 1985 when he was home consultant with AV Jennings. Rick started Equity Home Loans in 1996 to help homeowners become property investors. Rick currently consults in the development of Mr Mortgage for mortgage brokers and HomeMate for new home buyers.
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