
Interest Rates SURPRISE!
Contributed By: Mike Phipps Finance on
I mentioned in a recent article that when it comes to interest rates I am not a clairvoyant and so it has proved to be. The reasons why will be revealed soon enough but rst a bit of recent history. Until relatively recently banks set their home loan and residential property investment rates in accordance with the Reserve Bank cash rate. That is, if the Reserve Bank dropped the cash rate then residential property rates followed and vice versa. A little while back one of the major banks announced that it would no longer blindly follow the cash rate benchmark and instead make rate decisionsRead More →