Australia Interest Rate
As many people predicted before, the interest rate is increase again for the third time on this year 2006. It was first increase on may 2006, then August 2006, then and finally today on November 2006. Three times raise in the same year, that’s very interesting.
Today, the Australia Reserve Bank increase the interes rates by a quarter of one per cent to 6.25 per cent. For people who are looking forward to buying our own first house this kind of circumstances is a bit scary, because if we take a mortgage on variable rate, then its a really a bad news for us. Lucky i didn’t sign up with any mortgage with variable rate yet , because actually I’m looking forward to own my first house/apartment unit here in Sydney. But for sure next year, i might get one once i find a good unit around Sydney. Hopefully at that time the house price will getting cheaper or interest rate might be lower ( but i don’t think its gonna be happened)
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