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top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

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1/10
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top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Big four to raise rates above RBA

By Staff Reporter
12 October 2009 | 1 minute read

Higher funding costs may force the big four banks to increase their rates beyond the official cash rate.

According to a report in The Sunday Telegraph, the National Australia Bank (NAB) revealed that the costs of short term funding will increase by between 0.10 add 0.20 over the next six months, which, if passed on in full, would add up to $40 a month on the typical $300,000 mortgage – on top of the RBA rate rises.

Over the weekend, Westpac’s retail and business banking group executive Peter Hanlon  also confirmed that lending rates could outpace rises in the official rate due to increased funding costs.

"The pressure on every single one of those (RBA) decisions is for us to actually increase rates by a higher amount,'' he told the Telegraph.

"Any (mortgage) interest rate increases will be based not on what the RBA does but on how our funding costs are going.''

Big four to raise rates above RBA
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top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

VIEW COMPLETE REPORT
1/10
Do you have an industry update?

top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to 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.