Interest Rates/Aust economy discussion

[Booney]

I seen Commonwealth/Westpac passing on full .25

If you're on a variable home loan. Those on fixed loans won't see it.

Basically, the 0.25% makes a $400,000 mortgage drop by $56 a month.

But those who are about to sign up......

Those that are about to sign up should be very mindful not to over borrow because of the seductively low interest rates and repayments, it won't be like this forever.

[heater31]

I seen Commonwealth/Westpac passing on full .25

If you're on a variable home loan. Those on fixed loans won't see it.

Basically, the 0.25% makes a $400,000 mortgage drop by $56 a month.

But those who are about to sign up......

Those that are about to sign up should be very mindful not to over borrow because of the seductively low interest rates and repayments, it won't be like this forever.

Smart business really....thinking ahead. Hardly ever happen is today's world

[Dutchy]

I seen Commonwealth/Westpac passing on full .25

If you're on a variable home loan. Those on fixed loans won't see it.

Basically, the 0.25% makes a $400,000 mortgage drop by $56 a month.

But those who are about to sign up......

Those that are about to sign up should be very mindful not to over borrow because of the seductively low interest rates and repayments, it won't be like this forever.

Majority of banks will assess that you can afford to make repayments at a rate of at least 5.50%

[mighty_tiger_79]

A cut of .25% to .25%

[Psyber]

I seen Commonwealth/Westpac passing on full .25

If you're on a variable home loan. Those on fixed loans won't see it.

Basically, the 0.25% makes a $400,000 mortgage drop by $56 a month.

But those who are about to sign up......

Those that are about to sign up should be very mindful not to over borrow because of the seductively low interest rates and repayments, it won't be like this forever.

Absolutely! Home loan rates have been over 7% more often than under in my lifetime.
First home 1969 7.5%
Up to 12% plus around 1975.
Around 17% in the late 1980s - I took to 3 monthly pre-paid Bank Bills at 14% for a while there to save on a commervcial property.
(At that stage I was only paying 12% on the lease on my Porsche.)