Where to for rates
The Weekly Home Loan report looks at where mortgage rates are heading.With little few changes in home loan rates recently much of the focus at the moment is on where rates are heading.
Wednesday, August 10th 2005, 7:03AM
by The Landlord
This theme has been strengthened since the Reserve Bank’s official cash rate announcement last week. As expected the bank’s governor left the OCR unchanged at 6.75% and the tone of it was slightly softer than in previous announcements.This has led to speculation that the next change – whenever it comes – will be a cut in rates, thus lower home loan rates.
However a number of economists are warning people not to be presumptuous about a pending cut. The picture emerging is that a cut – when it comes is still many months away, and in the meantime don’t rule out the possibility of yet one more rise.
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