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Westpac Lifts Rates by 50 Basis Points

#interestrates #housingmarket #heisesays
Westpac hikes rates by 50 points.

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  1. I know a bloke that locked in at 9.5% in 2008, just because the bank manager suggested to go variable. He was still paying over 9% when the rate dropped to around 4%… "Can't be Told" type of guy…

  2. The betting exchanges use to allow betting on interest rate moves but a few years ago asic warned then that this could be view as derivative trading, and that they didn’t have a financial license.

  3. in the late 1990s my father sold his investment property because he worked out he would be better off with cash in the Bank, he sold the property for just under 500k, Today he has no money but the property he sold for under 500k has just sold for 1.9 million,

  4. As a long time landlord, previously managing my properties myself I have a "nose" for financial hardship. If I was still managing my own properties I would be watching rent arrears very closely and preparing for the arduous eviction process.
    The RBA has gone too far too fast, but they don't know it yet. I will bring forward my estimate of the next interest rate drop

  5. Come on her majesty has been layed to rest and all you can obsess over is interest rates? We are only on this earth for a short term. It's very simple, if you can't afford it then rent, if you can afford it property is a great option in Australia.

  6. If you look at the past, RBA has always kept its cash rate higher than FED. RBA is not going to change it this time. FED is looking at 4.5% by mid-next year, thus RBA will have to go 5+%. That means Banks have to increase the rate to 7+%. That's why banks have put that there for 5yrs fixed. So, houses will have to go back to 2019 prices. According to CoreLogic, roughly 600K houses & units were sold during the peak year. People who bought during the 2017 peak survived the 2019 crash. They will survive this one too.

  7. Modern day DEBT SLAVERY working as intended, You Will Own Nothing and Be Happy. Only the sheepfrogs boiling in debt and government programmed obedience, refuse to see whats really happening. Even though the WEF, UN, WHO, IMF, IBS broadcast their policies. Agenda 2030, The Great Reset, Build Back Better, Human 2.0 etc…

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