Sunday, Sep 06, 2009
“Many people have bought recently thanks to low rates and the first-home owner grant and some will
Smh: The risk of unemployment combined with negative equity could catch out young borrowers.
The risk of unemployment combined with negative equity could catch out young borrowers.
The predicted rate hikes would take the cash interest rate to 3.75 percent, a move that would add $119 to the monthly repayment on a $300,000 mortgage.Meanwhile, the Federal Government boost to the first-home owner grant will halve on October 1 and disappear at the end of the year, potentially undermining buoyant prices at the lower end of the housing market. “Many people have bought recently thanks to low rates and the first-home owner grant and some will be in trouble when rates rise,” says Martin North, the financial services director with Fujitsu
Posted by chris @ 08:47 PM (194 views) Add Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
No comments have been submitted.
Be the first person to add your comment by completing the form below.