Interest rates - the downward spiral beginsThursday, September 04, 2008 This week’s announcement by the Reserve Bank that it has dropped interest rates by 0.25% will be a welcome message for most property owners. And, while it will not make a huge difference to the average monthly mortgage repayment, it is an indication that the trend for interest rates is now down rather than up. The experts in the marketplace are suggesting that we can expect a number of such reductions in interest rates over the next 12 months. We expect a positive reaction from home buyers to this week’s news. Their repayment dollars will go further with every interest rate reduction and banks will feel more relaxed about lending in a climate where rates are heading down. We have a great range of properties for sale at present. Whether for your own enjoyment or for investment, now is the ideal time to purchase. Don’t leave it until everyone jumps back into the market and demand starts pushing prices up again.
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