Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

Interest rates to remain on hold - for now

11 September 2009 Reporter

Mortgage rates are likely to remain on hold until at least November as companies continue to shed full time employees.

According to the Australian Bureau of Statistics, the number of people employed in full time work fell by 30,800 last month – meaning the number of full time jobs lost in the last year now sits at 217,500.

Analysts are predicting that the Reserve Bank of Australia is likely to leave rates unchanged at their emergency level of 3 per cent when they meet again on 6 October.

“There is no way in the world the Reserve is going to hike in October,” Macquarie Bank interest rate strategist Rory Robertson told The Australian.

“Economic recoveries are barely worth talking about until they are strong enough to stop any downturn in full time employment.”

Interest rates to remain on hold - for now
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

Where is the biggest threat to agents in 2019?

3rd party lead generation companies
DIY models discounting sales commission
Prop-tech firms cutting out the agent value proposition
A yet unidentified proper disruptor – like Uber or Airbnb
None of the above. There is no threat.
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.