Westpac up by 0.45%

maybe wespac caught the Dubai-bug (directly or indirectly)... that rise could be a sign of desperation or opportunity (to cover loss).
 
Tell me about it! we're with westpac... and get this... we had the chance to lock back in April 09 @ 5.19% for 3 years :(
(wasn't able to take up 4.99% for 3 years rate because we hadn't settled yet in December 08)

clearly we missed the boat!
 
scum bags. The 4.99 fixed is looking the goods......wish I had locked the lot.

I'm sure thats what your tenants think when you raise the rent:D

The good news is that over time the interest actually drops in real terms (on purchase price), but the rent continues to go up.
 
so dear landlords, in the next rent review, are you increasing the tenant's rent by $10 x 3 (3 interest rate rises) per week?
 
so dear landlords, in the next rent review, are you increasing the tenant's rent by $10 x 3 (3 interest rate rises) per week?

i was cash flow neutral when interest rates where 7% mainly because of excellent rent increases during 2007 to early 2008 (around 25%).
In the current market its harder to increase by the same % even though the rental market is still tight. Next year i think i will only be able to get around 3-4% rent increases
 
And I signed mortgage docs at WBC this morning. Thanks for the gift :(

Now I can't beat them, so I am now joining them. Time to buy into banks stocks.

I wonder how the rental market will react (if at all) over the next 6 months as a result of increasing funding costs.
 
Less than 3 years left until PPOR loan gone. Then 10 years until IP loans gone.

The day I pay out that last loan is going to be seriously satisfying. That said, the banks have helped me get to where I am, and to where I'm going. Plus I own shares in the banking industry.
 
About a third of my borrowings are variable so an extra $30 or so for me. Not phased as this was epected.The fact that a portion of my borrowings have been locked in at 7.25% during this whole slump hurts a bit more. Have to thank the gloomers for getting in my ear about that one. Live and learn,live and learn,.
 
Westpac obviously had this planned - two reasons they made the announcement so quickly, also before the announcement I got a phone call from WBC offering a very good deposit rate. They are positioning themselves to make it harder for the other domestic banks to attract retail deposits.
 
Westpac obviously had this planned.
I agree. Their economists expect the RBA will be pausing, so I guess they want to expand their margin while they can. And by announcing immediately, they can reasonably expect the others to follow to a large extent & blend in with the crowd.
 
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