The Reserve Bank of Australia publicized its fifth rate rise in seven months in accordance that most home builders are not expecting any decrease or fall in the region. From the data stated that Reserve Bank increased the rate by 25 basis points to 4.25 per cent following its quarterly board meeting.
According to Alatalo Bros land sales manager Rod Jones statement that he is not expecting any housing demand that will lead to falling down in regards with the rate rise. “Rates are still not really high so I don’t think we’ll see a slow in demand,” Mr Jones said.
He also said that it might hurt those people who have already applied for a house loan as they need to find an extra amount I order to pay for the increase rate. The General Manager of SouthernVale Homes, Peter Sproule, decided the increase would be rough on first-home buyers. The second and third home buyers might not feel the raise however the first one would certainly feel the effect.
From the recent announcement stated by ANZ, Commonwealth Bank of Australia and Westpac regarding the increase with the interest rate said that the bank central is definitely also increase at the same time. In the meantime major Border banks have
Also gave their statement that they will see how the markets reacts to the interest rate increase before announcing their revised rates next week.
Source: Bordermail.com.au
According to Alatalo Bros land sales manager Rod Jones statement that he is not expecting any housing demand that will lead to falling down in regards with the rate rise. “Rates are still not really high so I don’t think we’ll see a slow in demand,” Mr Jones said.
He also said that it might hurt those people who have already applied for a house loan as they need to find an extra amount I order to pay for the increase rate. The General Manager of SouthernVale Homes, Peter Sproule, decided the increase would be rough on first-home buyers. The second and third home buyers might not feel the raise however the first one would certainly feel the effect.
From the recent announcement stated by ANZ, Commonwealth Bank of Australia and Westpac regarding the increase with the interest rate said that the bank central is definitely also increase at the same time. In the meantime major Border banks have
Also gave their statement that they will see how the markets reacts to the interest rate increase before announcing their revised rates next week.
Source: Bordermail.com.au
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