How do interest rates affect you

[Brendan]

I found this today.. its a great little application that gives you an overview of how interest rates have grown over the past 20 years, and how you could be affected by them..

Interest Rates | Interest Rate Rise News.com.au Money | News.com.au Money (http://www.news.com.au/business/money/feature/0,,5016109,00.html)

Are you feeling a pinch from interest rate rises? As an Investor? Owner? Renter?

[J_D]

Rate rises (along with fuel and the over all cost of living) have had an affect of me in two ways:

1) Business lending: The rate rises mean profits are poured into higher interest rates... I've had to make sure anything i'm putting borrow money into accounts for a possible rate rise every 2 months (just to be safe)...

2) Rental market: Bit obvious this one. Rates are pushing up mortgages which are in conjunction with housing shortages in sydney, pushing up rental prices etc.... in the last 6 months our rent has increased by OVER 11%... and we consider our selves the 'lucky ones'... i've seen some rents jump at 33% in one hit ..... bit steep?

JD

[Go Jo]

hi Brendan,

They affect me a heck of alot! Especially with one loan at 11.45%. ( Since I checked 4 weeks ago.....too scared to look now!)

However, I do appreciate your graph, I like looking at the IR Graph, it reminds me of how LOW they actually are at the moment.:)

Regards Jo

[Brendan]

hi Brendan,

They affect me a heck of alot! Especially with one loan at 11.45%. ( Since I checked 4 weeks ago.....too scared to look now!)

However, I do appreciate your graph, I like looking at the IR Graph, it reminds me of how LOW they actually are at the moment.:)

Regards Jo

Wow.. 11.45%!!! on one of my properties I am at 9.15% and I thought that was high, so I am moving to another product to buy another IP and intend to bring it down to 8.8%

Have you talked to your lender to see if they can bring it down.. its very high!