News

No such thing as a cheap home loan

Tuesday 15th of November 2005
Right now, none of the lenders offering standard rates have anything below that level. Variable, or floating rate, home loans have hit 9.25 per cent following the Reserve Bank's decision to hike the official cash rate from 6.75 per cent to 7 per cent.

Fixed rate home loans from the banks are around the 8 per cent mark and look like getting higher. The bad news is that in the short-te...
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