Friday newspaper posted latest borrowing figures for the last 5 months. Borrrowing for a establish property droped by 3% Borrowing for a new property dropped by 3.2% Borrowing for a new construction of home 3.7% Article commented that RBA was suprised it was far higher than their expected 2%. This than would justify no further increases in the interest rates.
However reading a article from a overseas newspaper, a journalist noted how australian interest rates are the highest in the world. He continued to write how interesting it was to note when australian banks borrowing rates goes up so does the mortage rate. The journalist noted was our RBA independant or not from these banks.
