Rising Interest Rates and a Rising Dollar - Cruel!

[Iggypoppin']

No disrespect intended by the way, I just have terrible vision, even with the corrective lenses, it can be a real chore reading some posts on here as well as books and telly!
I was talking with the old man last night, looks like his mortgage is about 7 years away from final payment if he only pays minimum payments from now till 2018. With his super looking pretty good and his pay quite reasonable(80k+) I am set to inheiret his house and split it with my brother. His plan is to move to Perth and live with my mum and her mum in the unit, when she dies my mum gets the unit and all is hunky dory. Meanwhile I get a 50/50 split of a property worth close to 525k. This is pretty good news for me I think, what with the promise of a new and better job next year as well as an inheiretence of shares and what not later down the track. Life looks good!

[duaned]

Thank christ I don't pay any interest on my small mortgage. In fact, I haven't payed the bank interest for years!

[BENT_8]

Originally Posted by 4Vman

There is 1 significant difference, Aussie banks wont provide unsecured home loans, i.e they wont lend more than the fire-sale value of the property, in the US they will lend well over 120% property MARKET value...

If you default in Australia they sell your house and pay out the loan, in the US they sell your house and there's still a debt you don't have to pay...

Thats unless there is a slight correction in values, remember it was the reserve who said property values are 15-20% over inflated.
Until recently the banks have been lending in the vacinity of 90-100% loans to just about anyone.

Australians are mortgaged to the hilt like never before, the comment made earlier is as accurate as it gets, it was better to pay 15% in 1990 on a $80K loan than pay 7% on $400k today.

Its not gonna happen overnight, but the trickle will become a stream and so on and so on.

Anyone care to calculate the monthly increase a .45% rise puts on a $350-400k mortgage?
I'd say any increase on a mortgage that size would be significant.

[MexicanBatman]

Originally Posted by Resurrection

There are calls to audit the US gold reserves to confirm how much gold exists. Naturally these requests are being ignored as there may not be as much (or none at all) which would cause a panic.

It's all counterfeit isn't it? That the crazy story I read LOL, lead or silver bars gold plated....

The reason why CBA did what they did, well..... There was a cyclone and the banannas....

I locked mine in last week 3 years 6.75% at first we were thinking right move? But now our fixed rate is lower than what the variable for us would have been... Not that I really care I see this debt never getting paid anyway..

[Scott]

Originally Posted by MexicanBatman

I locked mine in last week 3 years 6.75% at first we were thinking right move?

Sounds good. Who with and what is the comp rate?