Will there be another mortgage rate reduction?
Tuesday September 30, 2008
The crisis on Wall St and its adverse effect on the Australian stock market has thrown further rate reductions by the RBA into doubt. While some economists predict that the RBA could make a rash decision to make even larger mortgage rate changes than expected, it is seeming more likely that they will watch to see what happens over the next month before considering a change in the official cash rate. Those who are barely holding on may need to put up for another month yet with the current mortgage rate.
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