House prices to keep falling for years

[MrBurns]

I think it's all good stuff. Hopefully it'll give those lemming FHOG buyers a kick in the nuts.

who will hopefully pass it onto the Kruddster, suck on that sauce bottle you Aussie impersonator !

 

[nunthewiser]

its all sunshine and lollipops i heard from a confidential chatroom sauce

 

[Soft Dough]

I think that is rubbish...excuse by the monopolistic...overseas rates are lower than ours...who are they trying to kid..they will get away with it...no competition anymore....and this was allowed to happen........

But their base rate is lower too.

the difference here in both magnitude and percentage is lower.

So in reality, we have one of the most competitive, fair and reasonable banking systems around.... but then again the average house punter/gambler has no idea of this do they?

 

[Beej]

Oops! I thought the credit crunch was over?

CommBank lifts rates in surprise move

"The rise is a consequence of higher funding costs facing the banking sector as cheaper-priced money borrowed by the country's main lenders over the past few years rolls over to be replaced by more expensive debt being charged for by international credit markets"

Wow! A whole +0.1%! Huge credit crunch there.....not....

I note also that CBA standard rate was lower than some others (ANZ for example was/is at 5.81%, CBA now at 5.74% so still cheaper). Of course a lot of people don't pay the standard variable rate anyway, and some banks (like ANZ) offer better discounts/packages for more sophisticated customers than do CBA.

But never let a few simple facts get in the way of a bit of credit crisis hysteria! It's all storm clouds and vinegar sticks!

Cheers,

Beej

 

[nunthewiser]

whats a vinegar stick ?

 

[Beej]

whats a vinegar stick ?

I tried to imagine the opposite of a lollipop - frozen vinegar on a stick should do the trick! Amen!

 

[nunthewiser]

LOL ..i reckon you should go sit next to kincella in the drug testing tent

have a great day

 

[MrBurns]

whats a vinegar stick ?

Not too sure but I think KRudd has had too many of them.

 

[nunthewiser]

Not too sure but I think KRudd has had too many of them.

what a great leader

walking tall doing the thing

probably lives in st kilda on the weekends

thankyou

 

[kincella]

I hate that you put his picture there...it should be a link so I can choose to view it or not.....I cannot stand to watch any of that crowd...they all seem so fake.
oh and when I do see him...I often wonder if he is a cross dresser ...something feminine about the face and facial expressions...as in an old woman...
and keep on about the drugs fool....
a little alcohol...but not drugs...freaken difference

 

[Quincy]

Wow! A whole +0.1%! Huge credit crunch there.....not....

The +0.1% is not in itself the "big" issue. However it may well be the beginning of more to come which is what Swan is obviously worried about. The Banks have taken the reins now. Just how far they go with ad hoc interest rate increases is the worry for Swan & co.

 

[Beej]

The +0.1% is not in itself the "big" issue. However it may well be the beginning of more to come which is what Swan is obviously worried about. The Banks have taken the reins now. Just how far they go with ad hoc interest rate increases is the worry for Swan & co.

Did you read the bit though about how CBA were the lowest though? They may have just been "buying" market share during the current FHB frenzy.....

Also, it is not uncommon historically for banks to move rates out of line with RBA official cash rate movements, it's just that we haven't seen a lot of it for the past few years until recently. Ultimately there are still 4 big banks (and their fully owned smaller subsidiaries - St George, Bankwest etc) competing for the HUGE mortgage business. It doesn't take much for one of them to break ranks if things go to far and under-cut the rest, if of course the conditions exist to allow it.

Cheers,

Beej

 

[kincella]

I thought this was funny
http://www.theaustralian.news.com.au/gallery/0,26637,5024287-20581-2,00.html

 

[Quincy]

Did you read the bit though about how CBA were the lowest though? They may have just been "buying" market share during the current FHB frenzy.....

Also, it is not uncommon historically for banks to move rates out of line with RBA official cash rate movements, it's just that we haven't seen a lot of it for the past few years until recently. Ultimately there are still 4 big banks (and their fully owned smaller subsidiaries - St George, Bankwest etc) competing for the HUGE mortgage business. It doesn't take much for one of them to break ranks if things go to far and under-cut the rest, if of course the conditions exist to allow it.

Cheers,

Beej

Yes true. Under the current financial climate though, it is an "interesting" decision by CBA.

Time will tell obviously and we will just have to wait and see how it pans out.

 

[CamKawa]

Hear we go, the government is blaming the banks and the banks may soon blame the government. What a comedy act.

Rudd savages Commonwealth over rate rise

How about we all rejoice the fact the deposit rates are rising and congratulate those few Australians that have chosen to live within their means?

 

[Trevor_S]

Property no longer as safe as houses

 

[Mc Gusto]

interest rates on the rise. chk chk boom

 

[MrBurns]

Westpac, NAB raise fixed rates

http://www.abc.net.au/news/stories/2009/06/16/2599124.htm

How dare they !

Kevin and Wayne will be just livid

 

[Julia]

Westpac, NAB raise fixed rates

http://www.abc.net.au/news/stories/2009/06/16/2599124.htm

How dare they !

Kevin and Wayne will be just livid

Does this now make CBA the good guys again?

 

[MrBurns]

Does this now make CBA the good guys again?

What a hoot, if they went bersek at the CBA they will be totally out of control with rage over this, or they'll have to appear so.
I can hardly wait for the news tonight.
What a side show, and the banks are watching these 2 ants leaping about from their offices on the 85th floor of some building they own laughing their heads off.