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Interest rates need to be raised, says broker association

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Australian Broker | 16 Oct 2015, 08:00 AM Agree 0
The chief executive of a broker association has said that while low interest rates are favourable, they need to be raised to maintain balance
  • SEQ Broker | 16 Oct 2015, 10:03 AM Agree 0
    Peter, while I may or may not agree with you regards rate increases, and given the bottom line of some of our banks, rate increases for margin could go down like a lead balloon. As a broker, my job is to find the best deal for my clients. That is irrespective of whether rates have gone up or down. What it is, is what it is.
  • Mortgage Holder | 16 Oct 2015, 10:27 AM Agree 0
    When the GFC hit the banks increased their rates independent of the reserve bank to cover their "increased costs". When are those rate increases going to be dropped? Nobody ever seems to mention them. Now apparently they need to increase them again, they only make billions a year in profit! Who's watching the banks?
  • Broker | 16 Oct 2015, 02:50 PM Agree 0
    "Mortgage Holder" - the answer is the banks are watching the banks!

    The only answer these days is to shop your loan around every 2-3 years and more than likely stay away from the big 4.
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