Reserve Bank holds Rates

At its meeting today, the Board decided to leave the cash rate unchanged at 4.75 per cent.
The global economy is continuing its expansion, led by very strong growth in the Asian region, though the recent disaster in Japan is having a major impact on Japanese production, and significant effects on production of some manufactured products further afield.

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Borrowing Within Your Means

While your lender will give you a maximum borrowing amount, it is essential that you determine your own borrowing capacity when searching for your new home

The choices you make when taking out a mortgage have long lasting implications – so you need to approach borrowing with a healthy attitude.

How much you can borrow and how much you should borrow are two very different things. While your lender should not let you borrow more than you can afford, ultimately the choice is yours – so be careful not to over commit yourself.

Westpac profits up while NAB’s fall

National Australia bank’s first half net profit plummeted more than 21% to just over $2bn, while Westpac recorded a 32% rise in first half profits to a record of almost $3bn, guess Gail Kelly will get her bonus.