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08/08/2008 11:23 AM
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Has the bubble burst
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Fixed rates are falling and by quite an amount - Heritage Building Society has leap frogged the majors with a .50 per cent slash from their 3 year fixed.
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05/08/2008 02:39 PM
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RBA Holds Rates
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Following today's RBA board meeting the cash rate will remain at 7.25 per cent. Governor Glenn Stevens said "rising fuel costs, and lower asset values, has restrained demand" he concluded with " scope to move towards a a less restrictive stance of monetary policy in the period ahead is increasing" RBA-speak for rate cuts!
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04/08/2008 04:04 PM
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Big Four Margins Increase
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A report from The Sheet and InfoChoice claims the Big Four's margin on home loans has increased 30 per cent since January based on the gap between the 90 day bank bill and the standard variable. Hardly surprising the banks don't agree.
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04/08/2008 03:55 PM
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House Prices Going Down
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House prices in the capital cities continue their decline with 0.3 per cent decline on average (ABS). Perth prices fell most at 2.4 per cent in the last quarter.
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04/08/2008 03:58 PM
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Banks threaten to pocket the difference
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While the RBA may consider dropping the offical rate tomorrow - lenders have indicated that they may not pass the reduction on to customers. They suggest that pressure from the government could could force banks to constrain lending and thus further stall the economy.
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04/08/2008 03:51 PM
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Could be good news for Xmas
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Despite inflation most economists are predicting rates will fall by Xmas. With some predicting a 0.50% cut in November alone. Only 2 weeks ago ANZ was predicting 2 more rises but now they are predicting the next move to be a cut.
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17/07/2008 10:00 AM
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RBA Hints That Rates Have Peaked
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The Australian Reserve Bank Governor Glenn Stevens yesterdat gave the strongest hint that rates have peaked. "It looks more likely now than it did a couple of months ago that this more moderate track for demand will continue," Mr Stevens said. That would "in due course begin to exert downward" pressure on inflation, he said.
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