Another Interest Rate Rise!!!!!

[GOTMYN]

I don't know about you guys, but these interest Rate rises, are a bit of a worry!!!

When is it going to stop??

Everyone Blamed Howard for the recent rises, and now he's gone, the Banks do it themselves!!

Time to Get my Home Loan fixed!! before its too late!!

Look at Oil Prices, we are in for hide times by the look of it....$1.50 a litre for Unleaded by next week.....????!!!!!

before you know it, we will all have two jobs and just scraping by!!

Sometimes make you wonder if buying a house was a good idea!!

What's your thoughts??

 

[vlv8vic]

crap happens. Doesn't matter how high it goes I'll find a way to keep the houses. I think thats just part of owning property. Don't buy if the worst case scenario will take it away.
I based it on the last interest rate high when Keating was in.

 

[cano1]

how are all the young kids gonna be when they grow up and start a family??its gonna be ****ed

 

[Bravotwozero]

Well nobody likes a rate rise so I won't say I'm stoked about it, but they can't stay at record lows forever. The folks that mortgaged themselves to the hilt when they were at record lows will be struggling soon.

 

[Kikki]

With the price of house's and intrest rates we literally have NO chance of buying a house any time soon.

 

[itsonlyme]

man everything is on the rise, I think everybody is going to either have to take it easy on the pleasure part of life and start working for a promotion

 

[minux]

These interest rises are only within NAB for now. It is simply because so many people are mortgaged to the hilt along with massive personal credit. The housing shortage is causing a massive drain on borrowing for institutions, somebody has to wear the costs. In the end, that is the consumer. Personally i'd like to see interest rates higher, people are spending more than they can afford, maybe higher rates will make people realise you can't keep up with the jones on a 60k salary.. I can count on one hand the people i know who wouldn't be affected by interest rate rises to 13%.

 

[AttaBoy]

Why would you like to see higher interest rate? What about people who don't earn much, they are going to be suffering quite badly. Since its not only interest going up , but to mention other things like fuel, food etc.... (Higher cost of living)

Higher interest probably just going to drive people away from the banks anyway.

 

[minux]

Why would you like to see higher interest rate? What about people who don't earn much, they are going to be suffering quite badly. Since its not only interest going up , but to mention other things like fuel, food etc.... (Higher cost of living)

Higher interest probably just going to drive people away from the banks anyway.

If people cant afford these interest rate rises they have obviously exceeded their budget anyway. As i have said many times, we budgeted for interest rates to hit 15% on every property we buy. After that we have to start dropping luxuries.

I know of people on 60k a year who own a new SS, a 400k home and live week to week. It is plain outright stupidity, not everyone can have the best of everything, sometimes you have to draw the line. With how much personal debt people have now it may just shock people back to reality. Times never will be always good, you need to allow for the bad, which obviously a lot of the population hasn't.

I also have personal reasons that benefit me, after all, the only thing i care most about is what is best for my family.

As for the banks, who will people turn to? Private lenders? They get their money fromt he banks, so ultimately they have to charge the same.

 

[AttaBoy]

LOl you post reminds me of my uncle who earns around 50 - 65K a year and has a half a million house with a crap box corolla and an old ford mondeo in a massive garage.