welcome to our nightmare year, page-2

FOR hundreds of thousands of Australians, 2008 is shaping up to be a nightmare year.

Mortgage rate rises, rising petrol costs and soaring food prices are conspiring to stretch many ordinary household budgets to breaking point.

But if Australians are finding it tough, this week's economic data didn't show it.

Retail sales figures for November showed spending up a massive 8 per cent year-on-year, increasing the chances of a rate rise in the next couple of months as the Reserve Bank attempts to rein in inflation.

If December-quarter inflation figures due out later this month exceed an annualised rate of 3 per cent, it will probably force the RBA's hand to raise the cash rate 25 basis points to 7 per cent.

If that happens, it will have a crippling effect on hundreds of thousands of Australians already struggling to make ends meet.

The five interest rate rises of the past 18 months have already taken their toll. Home loan arrears have doubled in the past three years and are still rising. Reposessions are also rising.

In the eastern states, many homeowners are facing the heartache of watching their house values fall while their mortgage costs rise,

Blueballs
I think if people want to get the stress of rising interest rates out of their lives.
The answer is ...FIX YOUR LOAN
So simple

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