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Property lenders hike rates by 60 basis points
Topic Started: 25 Nov 2016, 08:27 PM (5,954 Views)
insertusernamehere
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Simon_S
25 Nov 2016, 11:23 PM
LOL.....None of the Bulls have touched this thread ........

Wonder why....
They can't hear you over that loud popping sound.
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Black Panther
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Are you guys this stupid !

Banks make most of their profits from home loans.

I say let them raise rates. When their home loans portfolio's start collapsing, watch how quickly zirp is re introduced ...
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Simon_S
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insertusernamehere
27 Nov 2016, 09:03 PM
They can't hear you over that loud popping sound.
Good call!


Quote:
 
Are you guys this stupid !

You are obviously speaking for yourself and Trollie.....
Quote:
 
Banks make most of their profits from home loans.

They won't when people start to default.........
Quote:
 
When their home loans portfolio's start collapsing, watch how quickly zirp is re introduced ...

Too late the Damage is already done........

Edited by Simon_S, 27 Nov 2016, 10:40 PM.
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Trollie
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insertusernamehere
27 Nov 2016, 09:03 PM
They can't hear you over that loud popping sound.
You've used that one for years without success.

Let me guess "it's different this time"?
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GloomBoomDoom
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http://www.news.com.au/finance/business/banking/us-election-result-hits-australian-home-buyers-with-mortgage-interest-rates-on-the-rise/news-story/c47b87969d51419e0861068587d076a8
MSE
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Trollie
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GloomBoomDoom
29 Nov 2016, 09:57 AM
"AMP Capital’s chief economist Shane Oliver said it was “quite normal” to have changes in fixed rates out of cycle from the Reserve Bank, because fixed rate mortgage rates were determined on the back of bond yields."
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Rufus
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Trollie
29 Nov 2016, 10:21 AM
"AMP Capital’s chief economist Shane Oliver said it was “quite normal” to have changes in fixed rates out of cycle from the Reserve Bank, because fixed rate mortgage rates were determined on the back of bond yields."
I expect term rates to ease back down as the Trump bond rally runs it's course.
This is just a bit of profit taking by some banks.
Take risks - if you win you will become wealthy, if you lose you will become wise
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Trollie
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Rufus
29 Nov 2016, 11:41 AM
I expect term rates to ease back down as the Trump bond rally runs it's course.
This is just a bit of profit taking by some banks.
Exactly.

They saw an opportunity to hook some of the more panicky types into a fix term loan at a higher rate
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Simon_S
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Yes some interesting points....

Quote:
 
“The US Treasury benchmark is such a critical benchmark, not just in the US but on the global scene, that it will have a flow-on effect,” Mr North said. “It’s already having an effect in Europe, the UK with mortgage rates there.”

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He said Australian borrowers should brace for “a half to three-quarters of a per cent rise in the next few months”, independent of any change to the RBA cash rate.

Here's the full quote Trollie:
Quote:
 
AMP Capital’s chief economist Shane Oliver said it was “quite normal” to have changes in fixed rates out of cycle from the Reserve Bank, because fixed rate mortgage rates were determined on the back of bond yields.
But he said the major banks could soon start meddling with variable rates if US bond yields continued to increase.
“We haven’t got that at the moment, but their funding costs are rising and, when you put that together with the other pressures on banks’ funding costs, it might have a flow-on effect,” Mr Oliver said.


Wasn't some one here saying that the Central Banks control Interest Rates........


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Trollie
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Simon_S
29 Nov 2016, 02:12 PM

Wasn't some one here saying that the Central Banks control Interest Rates........

You're so clueless :lol

Central banks control the cash rate, not the rates private banks charge for homeloans. Go find a clue you muppet.
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