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.
Continue reading about RBA Home Mortgage rates to stay on hold
First time home buyers are suddenly given two choices to move to buy or build their first homes. First home buyers will be eligible for grants of up to $21,000 designed to stimulate housing activity in new home construction, construction loans and home finance generally.
The scheme will be time limited.
All new home contracts entered into by June 30 [...]
Continue reading about First home buyers double bonaza as Rudd spends surpluses
Councils around Australia have given the go-ahead for 13,000 new homes, a jump of 7.5 per cent.
Australia’s latest economic measures are significantly stronger than expected, further cementing the case for higher interest rates.
Official figures on residential building approvals show a big turnaround in the month of June.
Local councils around the nation have given the [...]