9News: Homeowners Hit

Peter Overton: There is fresh pain for mortgage holders tonight with more of our big banks announcing interest rate rises.

Lets go straight to Finance Editor Ross Greenwood in the city – Ross, this is certainly going to continuing putting more pressure on the family budget.

Ross Greenwood: there is no doubt about that Peter. It was the ANZ this afternoon, who first came out and said rates will rise for both home owners, plus investors, but 0.16 per cent.

Not, it’s given an exemption to anyone living in a drought affected areas; they won’t feel the pain of this increase.

But just 20 minutes later, the Commonwealth Bank, Australia’s largest Bank, said it will raise its own rates by 0.15 per cent.

This mean, depending on which bank you’re with, if you’ve got half a million dollar mortgage right now, the increase will cost you between $560 and $600 a year.

This will do nothing, of course, to sooth the nerves of property investors, especially as the price of property is falling in Sydney right now.

One bank holding out right now after Westpac went last week, is the National Australia Bank, but Peter it seems its only a matter of time.


Interviewed –Andrew Leigh, Shadow Assistant Treasurer, Parliamenttitled –Should we have income tax cuts?

Interviewed –Chris Richardson, Chief Economist, Deloitte Access Economicstitled –Is the Royal Commission affecting property prices?

9News: Falling Faster

Ten years on, could the GFC happen again?

Interviewed –Daniel Gradwell, Senior Economist, ANZ Banktitled –What does the property prices slump mean?

9News: Price Slump

Interviewed –Martin North, Principal,Digital Financial Analyticstitled –Can your family survive if there is an interest rate rise?

Interviewed –Professor Ian Harper, Dean, Melbourne Business Schooltitled –Would ACCC have been better to regulate the financial industry?

9News: Property Prices

Interviewed –Scott Morrison, Treasurer, Federal Governmenttitled –Is Australia’s economy growing?

Interviewed –Paul Bloxham, Chief Economist, HSBCtitled –Economic growth is up, but what does that mean for ordinary Australians?

Interviewed –Dominic Perrottet,Treasurer, NSWtitled –Stamp duty shake up could be key to first home buyers

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