Mortgage news archive 7: Mr Mortgage main page here RBA deputy hints at rate rise. Louise Brannelly, The Courier Mail and wire services 16th Oct 1999.
"Looking for home mortgage finance? Try Mr Mortgage first for 100 percent home loans, 95 percent mortgage refinancing with debt consolidation and 95% lo doc mortgage loans and bad credit mortgages now." Bond yields yesterday soared to levels not seen since August 1997, and share prices slumped as Reserve Bank assistant governor Glenn Stevens all but convinced Australian markets that an interest rate hike is just around the corner.......... Bankers' inflation fears give way to threats of overheating economy. Tony Grant-Taylor. The Courier Mail, and wire services 16th Oct 1999. Reserve Bank of Australia assistant governor Glenn Stevens yesterday staggered financial markets when he echoed earlier comments by RBA governor Ian MacFarlane about the past success of a pre-emptive strike against Inflation............ Consumer debt explodes to new high. David Tomlinson, Courier Mail, 4th September,1999. Easy Loans fuel spending spree. “Remember, you’ll be happier with a Is it time to refinance your mortgage with Mr Mortgage? www.mrmortgage.com.au Australians have taken a shine to debt. Low Interest rates, high levels of competition among bankers eager to lend and high levels of consumer confidence have seen a rapid expansion of credit to consumers over the past few years...... NAB fixed rates lead the way up Tim Boreham, Andreea Papuc. Interest rates. W/E Australian 7-8th August 1999. The National Australia Bank has threatened to spark another round of fixed mortgage [rate] increases, yesterday jacking up its rate by up to 0.49per cent. NAB's across-the-board fixed rate increase follows the bank's shock move last month to increase its most popular offering, the standard variable rate-by 0.1 percentage points. The move places the bank's rates generally above those of it's main competitors, prompting expectations that other lenders will soon follow suit............ Rising rates seep through to customers Andreea Papuc, W/E Australian 7/8/99 More and more, the rise in market rates is being felt by the consumer [at the] household level. The National Australia Bank yesterday became the latest of the four big banks to increase fixes interest mortgage rates in response to higher wholesale rates, which have been ticking up in anticipation of a rise from the US Federal Reserve......... Many corporates have rushed to the market to borrow funds ahead of Y2K, which , it is feared will lead to increased volatility........ CBA again lifts fixed loan rates. Tim Boreham, finance, the W/E Australian, 12-13 June 1999. Australia's biggest home lender, the Commonwealth Bank of Australia, yesterday moved to raise its fixed home loan rates-some of them for the second time in little more than a week.. Avco purchase fits GE Capital's Global Plan. [by Tim Boreham, Source: The Australian 22nd May 1999] Global Financial services operator GE Capital has emerged as the buyer of Avco's local consumer finance business for an undisclosed price believed to be between $700 million to $800million...... It also recently] bought the lender's Mortgage insurer, the Home Loan insurance Corp, from the Federal Government............. NAB lifts fixed loan rates. [Source: Weekend Australian, May 15-16, 1999] The National Australia Bank yesterday became the first big home lender to lift home interest rates, boosting some of its fixed offerings by as much as 0.41 percentage points....... ANZ to raise [Source: Advertiser May 15, 1999] $20.00 penalty for missing credit card payment. Bank fees and charges are on the raise yet again, with the ANZ set to introduce some of the highest fees of all financial institutions. The increases come just days after it was revealed banks collected a record $10 billion in fees and charges last year. This was 22 percent more than the previous year..... | 
