Thursday, November 09, 2006
Source: abc.net.au
The region's real estate industry says people with mortgages would have factored in the latest concern rate rise. The Reserve Bank yesterday announced a 0.25 per cent ascend in the executive rate to 6.25 per cent. The chairwoman of the Coffs Harbours stem of the Real Estate Institute, Christine Clarke, says the impact of the speed rise will be less on the mid-north shore.
She says that is because the average home credit is lower than in Sidneys Clarke says it will hurt some people, but most would have planned ahead for this rate rise. Those people who were advise of that and who have watched the property market I think have been very mindful of their borrowings and of how heavily mortgaged they have been so that they were able to be in a better position should these notice rates rise and draw closer.
The region's real estate industry says people with mortgages would have factored in the latest concern rate rise. The Reserve Bank yesterday announced a 0.25 per cent ascend in the executive rate to 6.25 per cent. The chairwoman of the Coffs Harbours stem of the Real Estate Institute, Christine Clarke, says the impact of the speed rise will be less on the mid-north shore.
She says that is because the average home credit is lower than in Sidneys Clarke says it will hurt some people, but most would have planned ahead for this rate rise. Those people who were advise of that and who have watched the property market I think have been very mindful of their borrowings and of how heavily mortgaged they have been so that they were able to be in a better position should these notice rates rise and draw closer.
posted by nisha
@ 7:25 AM
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