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1.Market Observations, 8.Was Sticky

6 Dec 2016 (TheAge) – The interest rate party is over, and the only way is up

(6 December 2016, The Age, BusinessDay, p20, Elizabeth Knight)

‘Australian banks are drawing a line in the sand. Interest rates on mortgages are going up – by stealth. And there will be flow-on effect to the residential property market and temper the rate of growth in Sydney and Melbourne. On Monday Westpac announced it would increase the rate on interest-only loans and the National Australia Bank said it will boost the interest rate on investor loans by a pretty hefty 0.15 per cent.’

Read more at TheAge.com.au

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