American mortgage shock waves hit Australia

American mortgage shock waves hit Australia

7.30 Report | Wed, 15 Aug 2007 21:36:00 +1000 | Duration 8m 13s

Last week's interest rate rise may be unpopular with home buyers, but news in financial markets this week suggests there is worse ahead. The shock waves coming from the American mortgage crisis are now being felt here with local lenders suggesting they may increase interest rates again, even if the Reserve Bank does not.

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Tags: consumer-protection, economic-trends, banking, australia, united-states

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