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Market latest: Australia
Market indices 9 September,2010
09/09/2010 18:01 Sydney, Australia.
Currencies 9 September,2010
09/09/2010 18:01 Sydney, Australia.
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09/09/2010 18:01 Sydney, Australia.
Currencies 9 September,2010
09/09/2010 18:01 Sydney, Australia.
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09/09/2010 18:01 Sydney, Australia.
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09/09/2010 18:01 Sydney, Australia.
Currencies 9 September,2010
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Market indices 9 September,2010
09/09/2010 18:01 Sydney, Australia.
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09/09/2010 18:01 Sydney, Australia.
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A senior Reserve Bank of Australia (RBA) official says interest rates are likely to rise "a bit further" towards more normal levels.
As property market conditions turn back to "normal", first home buyers are in prime position to enter the market.
The Reserve Bank of Australia has kept interest rates on hold at 3.75 percent this week, delivering surprise relief for cash-strapped homeowners.
Australia has the least affordable houses in the world according to a ranking of international housing markets.
Following last Tuesdays rate hike of 25 basis points, many home experts are urging homeowners to investigate their refinancing options.
Despite being well below last year's peak average variable of 9.6 percent, the rate hike may dampen the runaway property markets in Australia's mortgage belts, according to experts.
Investors and upgraders are expected to push Australian property prices up by as much as 23 percent over the next three years, according to experts.
All of Australia's big four banks have increased their variable home loans after the RBA rate hike.
Following the Reserve Bank’s decision to lift official interest rates by 0.25 per cent to 3.25 per cent, industry experts are urging homeowners to refinance
Federal Treasurer Wayne Swan has warned that retail banks may be forced to raise rates independent of any action by the Reserve Bank of Australia.
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