banks – realestatesource

HIGHER interest rates, and a winding-down of government grants for new homes, have contributed to a contraction of housing finance, for the second successive month in November, 2009 (released January 2010).

Strong population growth, pent-up demand, and re-interest in real estate, by investors, is expected to result in the RBA increasing interest rates when it meets next month – making it an unprecedented fourth straight interest rate rise since late last year.

It’s been speculated interest rates could rise between 1 and 3 per cent this year.

According to the recent ABS statistics, the number of housing finance approvals fell 5.6 per cent (seasonally adjusted) in November from October.

National

Westpac, NAB Follow CBA and Lift Interest Rates

June 15, 2009 Marc Pallisco banks, government action, interest rates, Investment

THREE DAYS after banking giant Commonwealth Bank announced a surprise increase of its fixed interest rate, rival banks Westpac and National Australia Bank have followed suit.

Westpac yesterday informed its mortgage holders of interest rate increases of between 0.1 per cent and 0.5 per cent, for most of its loans. The bank’s four and five year loan rates have ballooned from 6.69 per cent to 7.19 per cent.

Westpac was followed by the National Australia Bank, which also lifted rates on its four and five year loans, by between 0.15 and 0.4 per cent.

National

ANZ Makes $81.5 Million From Sale of 47 National Branches

March 25, 2008 Marc Pallisco ANZ Makes $81.5 Million From Sale of 47 National Branches, banks, National, Real Estate News, retail

ANZ executives were laughing all the way to the bank this week, after a portfolio of 47 national ANZ Bank outlets sold for a combined total of $81.53 million.