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Banks Raise Rates Again – 5.8% for Owner Occupiers

#interestrates #mortgages #heisesays
It didn’t take long for banks to respond to the RBA’s rate rise.

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  1. China will cut off all the west countries once the bricks nations go back to the gold standard if we don’t join them and get rid of our reserve bank we will see the greatest depression and people will eat rats cooked on plastic bag fires

  2. Yeah Australia is directly connected to Russia and so called territory of 'ukraine'.we have had so much diplomacy over the past 200 years and trade, lol………'U Krai' which in any Slavic language means 'outskirts' or at the boundary…..boundary of what? Russia…..it never existed pre 1919 when the Communist occupiers divided Russia

  3. Blaming the RBA🤦‍♂️. How many enjoyed hiding in their homes watching Netflix & sipping lattes with their hands out 🤲 in the lockdowns 🤷‍♂️

    Most off you thought toilet paper was a saviour , no wonder you were fooled.

  4. Rates are still very low, far below neutral. I don’t understand all this “hand wringing” in the media and markets. Very few credit worthy people paying 5.8pc pa. More like 3 to 3.25pc. Australians are like crack addicts when it comes to debt and only have themselves to blame. If you’re on100k per year and decide to take out a 1mil mortgage, then it’s on you.

  5. Labour shortages are pushing up prices, or there has not been a rise in wages so nothing to worry about, or we expect wages to rise lifting standards of living.
    Increased interest rates will slow demand so lower prices, or we need to increase handouts to cover increased cost of living.

    The RBA is a safe set of hands and in control of the economy, right?

  6. The more RBA increase the interest rate, the higher the food cost.

    Instead of slowing down inflation, the RBA action created the opposite effect.

    Time we sack our RBA Chief, follow by his minions and get real professional to run the Organisation.

  7. Government Borrows money, pay bureaucrats big bucks to write verbose reports and have endless zoom meetings. I have such bureaucrat friends, just borrowed more money to build some entertainment area out back of their house. Confident. Complaints about high prices of lettuce, but with the OT he can afford it. Reminds me of the lives of the Soviet Union before the big bust. The irony is the bureaucrats were still well paid when the factory workers lost their jobs . The RBA is trying to raise rates to stop inflation , but most inflation is related to high fuel prices, or drought or floods or other supply constraints.

  8. In Japan, extraordinary stimulus was called excess money, which is exactly what we've had sloshing about in our economy for years. It's time to burn off some of that excess money.

  9. Part time stay at home mum here. We’ve been preparing for this. Modest debt levels, making extra repayments, living frugally and well beneath our means – even before covid. The rising rate won’t change our lifestyle as we pay more than needed but it will extend the life of our loan. This still has me worried. How are other people feeling? Obviously I could work more days if things become more complex but was hoping to stay home with the children as much as possible during the baby / toddler stage.

    Anyone have any advice / thoughts?

  10. Last time when GFC came, China injected 4 trillion liquidity into economy, this time only 750 billion, the size and effect is significantly lower. Australia can’t expect same scale imports as last time from China, and back then China and Australia relation was not as bad.

  11. price increases and interest rate risers are just the devaluation of the Australian dollar(printing money) just like if you double the money given to players in the Monopoly game people pay more for property

  12. So the 'Inflation' has been caused by Government intervention into the Free Market, the RBA thinks their Monetary Policy is going to Fix inflation created by Government Intervention yet Government has made it clear it will continue it's intervention.
    lol so please tell me again how the RBA can fix this Inflation

  13. China is trying to source iron ore from elsewhere, so it wont help us.
    I don't think it's going to go well for China either. They already have a major housing bubble there. Building more wont stimulate their economy.

  14. I’ve been stashing extra mortgage repayments where my wife can’t draw it back out and learning to live on the remainder. Basically acting broke while sitting on a 50% LVR. I’ve never felt more like a genius

  15. I warned all my recent immigrant friends, not to fall for 1.5% home loan rate and get into 600K mortgages for old houses. Hmm.. now its too late, 30 year fixed rate is 5.25% and properties are piling up, without buyers. Australia, Canada, Newzealand and UK, the biggest pandemic players and the biggest real estate bubble countries. May be coincidence, or mega bail outs on money printers.

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