Katrina Parrington

Mortgage & Finance Broker, Elders Home Loans – Northern Territory – P. 8932 8900

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  • Elders Home Loans

  • Katrina Parrington

    I am a long term Centralian resident with more than 18 years experience in the financial services industry. Initially, in Real Estate in Adelaide before pursuing a career with Elders Insurance Alice Springs and lending roles with major banking institutions where I gained extensive experience in Home Loans and Commercial Lending here in the Alice and in Darwin.

    I have a unique set of skills that ensures I understand your lending needs and can provide you with professional advice and personal service.

    Tel: 08 8953 8800
    email: katrina.parrington@eldershomeloans.com.au

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Rates Unlikely To Grow Further

Posted by Katrina Parrington on January 22, 2010

According to the RBA, there could be some financial relief in sight for struggling mortgage holders.

The head of the Reserve Bank of Australia has said that the chances of a Reserve Bank rate rise are non-existent, while the chances of a rate cut are growing, despite another round of opportunistic rate rises from our now dominant banks and expectations of a high inflation reading when the June quarter Consumer Price Index is released next week.

The release of the July 1 board meeting minutes, makes it clear that a rate rise in not in the bank’s thinking and not even a forecast 1% or more rise in next Wednesday’s June quarter Consumer Price Index will make the bank change its approach. The RBA has predicted inflation will drop to their target level at three per cent, within the next two years. RBA governor Glenn Stevens says the bank may cut interest rates before that.

Bank lending here has slowed dramatically, despite the latest round of opportunistic rate rises from the banks, who all blamed for higher funding costs from the wholesale markets.

Consumer sentiment has worsened in the past month, as have business confidence and conditions. They are at a level last seen on some measures, at the end of the 1991-92 recession.

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