Australia housing bubble

[zilo]

ANZ raises mortgage rates out of the RBA cycle by 60 basis points.


It's over 6% for almost any mortgage.

wow....how does anyone pay a 700k mortgage now?

[MITCHAY]

Originally Posted by zilo

ANZ raises mortgage rates out of the RBA cycle by 60 basis points.


It's over 6% for almost any mortgage.

wow....how does anyone pay a 700k mortgage now?

Luckily I borrowed less than half that but I've gone from $300 to $500 per week so can only imagine.

I'm at 6.52%. Asked the broker to knock it back into the 5s as comparable product is mid 5s if I were to refinance.

Let's see how that goes but you ask for nothing you get nothing

[T3rminator]

Originally Posted by zilo

ANZ raises mortgage rates out of the RBA cycle by 60 basis points.


It's over 6% for almost any mortgage.

wow....how does anyone pay a 700k mortgage now?

According to ANZ's website, their standard variable for 80% LVR, with offset, is 6.99%, so if you are getting 6% you are doing well, that "out of cycle" may have been catch up.

How does one pay a mortgage that size? Easy. Cut down on the smash avos and ask those who survived the early 90s for advice.

Originally Posted by MITCHAY

Luckily I borrowed less than half that but I've gone from $300 to $500 per week so can only imagine.

I'm at 6.52%. Asked the broker to knock it back into the 5s as comparable product is mid 5s if I were to refinance.

Let's see how that goes but you ask for nothing you get nothing

That's a pretty good rate. When I fall off that cliff at end of July, I'm staring at 7%. Got my broker onto it now though.

[Citroënbender]

The imported crowd are going absolutely gangbusters in my area again now, it’s almost at the point where you’re afraid to leave the house in case they demolish it “by accident” while you’re at the shops. No council oversight worth a cracker, no notifications, no footpath permits or pedestrian measures, just the Wild West all over again.

[zilo]

Originally Posted by T3rminator

According to ANZ's website, their standard variable for 80% LVR, with offset, is 6.99%, so if you are getting 6% you are doing well, that "out of cycle" may have been catch up.

.

yeah knew that...was going to say 7% but the trolls would have a feeding frenzy