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rickadlam
Interests: weblogs, Australian Rules football, soccer, moody music [pop, country through to classical], reading, gardening, Bichon Frises, other people, interesting TV [SBS], English sitcoms and dramas, good food and wine.
Recent Activity
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Australian Federal Treasury has rejected calls for the Reserve Bank of Australia [RBA] to rein in the high Australian dollar. It says that currency intervention could unleash economic instability and cause inflation. The Reserve Bank has faced growing pressure to... Continue reading
Posted Aug 17, 2012 at Mortgage Shopper
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Morgan Stanley recently released research that pointed to Australia having a glut of housing, rather than the much touted housing shortage. Who is right? I have heard about this housing shortage since 2003 and wondered where all the tent cities... Continue reading
Posted Jul 25, 2012 at Mortgage Shopper
As the Reserve Banks of Australia admits that the Major banks forced rate cuts on it to protect the profitably of those banks, we need to ask if Australians are paying too much for their home loans. Yes, the "secret"... Continue reading
Posted Jul 12, 2012 at Mortgage Shopper
US household net worth now stands at 1992 levels, according to a recent Federal report, because people have used the family home as a gauge of net worth. In fact if you take out the value of their homes, most Americans are flat stoney broke. Continue reading
Posted Jun 17, 2012 at Mortgage Shopper
New South Wales has doubled the first home buyers grant to $15,000 to get property market moving. First home buyers purchasing new homes will have their grants increased from $7000 to $15,000 from the 1st of october 2012 for 15... Continue reading
Posted Jun 13, 2012 at Mortgage Shopper
World events press the RBA to drop interest rates rates for the second month running: 0.5% last month, and now a 0.25% pa The Reserve Bank of Australia has cut interest rates today by 0.25 per cent. 

The official RBA... Continue reading
Posted Jun 4, 2012 at Mortgage Shopper
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Australia goes from strength to strength in economic terms despite high interest rates, with high wages and low unemployment, but further RBA interest rates cuts are needed to support the housing market, home sales, new home construction & retailing! Continue reading
Posted Jun 1, 2012 at Mortgage Shopper
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Credit access is excluded to 3 million adult Australians. Efforts to improve access to basic bank accounts & to promote low-cost credit products are now being made. Continue reading
Posted May 28, 2012 at Mortgage Shopper
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Mortgage brokers need to help home buyers achieve their home savings goals. Lower mortgage interest rates, fee free home loans help sell home savings. Continue reading
Posted May 25, 2012 at Mortgage Shopper
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The PBA will meet tomorrow and decide whether to lower interes rates or leave that the official rate at 4.25%, High by Current World Standards. Continue reading
Posted Apr 1, 2012 at Mortgage Shopper
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Japanese banks prepare to launch a surprise attack on Australian Mortgage Profit margins Australia's big four banks, CBA, NAB, Westpac and ANZ are the envy of the banking world. Yet Japanese banks have been in operating successfully in a recession... Continue reading
Posted Jan 22, 2012 at Mortgage Shopper
This year has seen more Australian households reining in their expenditures, and the biggest fatality of all this is the credit card. Australians seem to be shunning credit card debt like the plague as well as mortgage debt. This year has been credit card debt reduction as the biggest shift to saving has occurred. Continue reading
Posted Dec 18, 2011 at Mortgage Shopper
The new mortgage rules seek to reduce risk-taking on mortgage lending, but mortgage lenders say the guidelines could hurt small banks and would be bad for credit markets. Securitised Lenders The rules are part of the recently passed Dodd-Frank "Wall Street overhaul bill". Continue reading
Posted Jun 28, 2011 at Mortgage Shopper
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Finding a reverse mortgage lender will be more difficult, but not impossible. The exit of Bank of America and Well Fargo from reverse mortgage origination will be felt as they provided nearly half the loans. But the other players are expected to raise origination volumes to cover about half the shortfall. The other borrowers may miss out. For many of them the loan modification route may make more sense. Continue reading
Posted Jun 17, 2011 at Mortgage Shopper
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Australia's housing market is a key driver of the domestic Australian economy. This article attempts to shed light on the true cause of our high home prices and that over priced land is the the real cause of our our over priced homes. Continue reading
Posted Jun 13, 2011 at Mortgage Shopper
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RBA ask home buyers & homeowners to carry the "interest rate" can for the economy again. Australian home buyers and mortgagor homeowners might get punished By the Reserve Bank of Australia with higher mortgage repayments for the mining boom, the Queensland floods and Cyclone Yasi. Continue reading
Posted May 25, 2011 at Mortgage Shopper
As the HIA advocates more Government handouts to stimulate the home building industry I wonder "has Australia's peak housing body has lost its way?" The IMF are now saying that Government incentives, Stimulus packages and low interest rates hurt home... Continue reading
Posted Apr 10, 2011 at Mortgage Shopper
Now you have to spend more on the land than the house! In a nation as big as Australia? Get real! This is the core reason that people don't buy new homes anymore. it does not make sense, and that because land owners and developers have constantly gotten more and more greedy. You can buy homes in cities for less than virgin smaller land lots in the sticks. Land costs are too high, so holding costs are out of reach. So people don't buy new homes. Continue reading
Posted Apr 2, 2011 at Mortgage Shopper
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What would a 20% deposit minimum mean to home buyers? One thing we all know is that getting a home loan will no longer be a walk in the park for borrowers or for mortgage brokers. First home buyers will be the first to suffer. They will have to be motivated to save a deposit, before they qualify for a home loan. Continue reading
Posted Mar 29, 2011 at Mortgage Shopper
Any bank and mortgage reform aimed at lowering mortgage rates, and exit fees has to be balanced with the planned growth non bank lenders. That means a no bank involved sector. Not the miss-mash we now have. Allowing banks to own their competitors is a stupid idea that keeps repeating itself in the mortgage lending sector. Continue reading
Posted Mar 17, 2011 at Mortgage Shopper
Firstly you'll see that mortgage brokers have been given primacy in the article, that is they are the first characters to be mentioned in the plot, and portrayed as the people would got the "profit." What a load of rubbish! Who benefitted most from selling bad mortgage loans? The Banks that created the loans, as well as Real estate agents and developers, new home builders, and home homers who sold on the highs of the market. Mortgage Brokers come in a sorry last, but get to be mentioned first, because they seem to be at the front of the line. Continue reading
Posted Mar 6, 2011 at Mortgage Shopper
Unfortunately for its customers, its not "Always work hard, tell the truth, put the customer first and fear God" I was once told that analogies are the most powerful force in persuasion. This is the secret that Westpac Bank used... Continue reading
Reblogged Mar 6, 2011 at Mortgage Shopper
In one of the worst cases of hypocrisy by a bank ever seen by Mr Mortgage, the ANZ uses its own bad behaviour as an example of how customers are treated by other banks. They include using deceit to snare... Continue reading
Reblogged Mar 6, 2011 at Mortgage Shopper
A house building slump in the September quarter should have been a warning to the Reserve Bank not to raise rates till February 2011. The November interest rate rise, like the May interest rates increase was in my opinion, not needed. House prices were already falling, and the CBA had said that they were going to raise rates by themselves. Continue reading
Posted Nov 24, 2010 at Mortgage Shopper
ANZ Bank uses its own outrageously bad behaviour as an example of how customers are treated by other banks. How to complain about misrepresentations and contracts. Continue reading
Posted Jan 20, 2010 at Mortgage Shopper