In a shock move the board of the Reserve Bank of Australia has put off any interest rate increases for the time being. The reason seems to be that the Greedy Banks such as Westpac, who had shamelessly hiked home mortgage rates above the last cash rate increase, had done the damage that a rate increase would have done this week, so no rate increase was called for it seems.
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Comedian and Sitcom Star Jerry Seinfeld is to appear in TV commercials for mortgage home loan lender Newcastle Greater Building Society.
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The Reserve Bank of Australia has left its interest rates options open at its board meeting this afternoon, leaving the official cash rates on hols, as it searches for clues on how the rest of the year will pan out.
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With the home loan and housing markets and residential home construction industry all plunging the Reserve Bank of Australia are now tipped to be lowering the official cash rate by up to one full percentage point on February 3rd 2008. This would bring Australia’s base interest rate to levels not seen since the 1960’s at just [...]
Australia’s Federal Labor Government plan to enter the home loan mortgage finance business will boost confidence in the non-bank mortgage sector and increase competition. Treasurer Wayne Swan said he will initialling invest $4 billion to revive the non-bank mortgage market and get the banks honest to pass on future rate cuts in full. Mr Mortgage [...]
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