Westpac Hikes Interest Rates – Housing Market Update

#Mortgages #InterestRates #HeiseSays
Westpac has once again increased its fixed home loan rates. With all the big four banks increasing rates will this have an impact on the housing market?


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Written by Heise Says


  1. Covid needs to be paid for. We cant do it with taxation (expect for 11 years of bracket creep).
    What to do?
    I know, make the average person flog there guts out for rudimentary housing. Housing on the outskirts, that on a global scale, should cost about 250-300K, but instead costs 700K and more.

  2. No one ever mentions or realises ( hope that’s not the case ) that rising rates is a reaction, a counter for inflation so maybe houses loose some value but everything you buy otherwise will reduce in cost. Everyone is so fixated on housing. It’s only the beginning I hope the banks raise rates right up to the mean so I don’t have to see those with no assets and low income suffer and go hungry.

  3. What about a rate rise of 5% over 5 years Heise? Lets stop talking about a 0.1-0.5% rise and get real about rate rises. The cash rate has not been lifted in ten years or more and the last time it was 4% or over was 2012. Yeah rate rises are going to have an effect when we start getting serious about rate rises to control inflation. Lets not kid ourselves that rate rises stop with a 0.1-0.5% increase when the rates are so low. Mortgage rates have been over 6% and quite a lot higher than that for much of the last sixty years.

  4. 10 months ago in an “apparent” pandemic the government said “ it’s a perfect time to buy a house 🐑ies” I called this was coming and I was an apparent conspiracy theorist 🤭😷

    So when the GST goes up and wages still stay stagnant for years, how can owners expect to renters to pay more? Most would rather live out of a tent or caravan surely?

    In 4 years time, if the interest rates rise around too 1.% -3% , look out with all the other living costs