July 02, 2007

Rate rises in 2008?

Oh no, that's not what I would like to hear. Mortgage is speculated to rise in 2008 - full details here. That is bad news for all homeowners slaving away to meet repayments. Really I think standard of living in Sydney is okay-ish, for example, buying fresh foods from the supermarket, buying new cars, etc is relatively cheap (well if you don't convert to weaker currencies to compare with that is, I am speaking in terms of earn AUD and spend AUD) but of course except buying houses and eating out (these are the killers!).

Okay back to the point, I would not be surprised if we would be forced to sell our home someday due to sky rocketing mortgage repayments! I hope not!!


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