The Sunday Telegraph reports banks are urging first home buyers to take out mortgage applications prior to the Melbourne Cup rate rise next week, so they can secure the biggest possible loans. A mortgage advisor at NAB’s Surry Hills branch told a Sunday Telegraph Journalist “you will need to hurry …
The Australian housing bubble, one of the last in the world to pop is bucking world trends to hit new heights. Today, The Sydney Daily Telegraph reports data from Residex suggesting Sydney’s median house price is now $610,500 in September, up $11,000 for the month after breaking through the $600,000 …
The price earnings ratio or PE is a gauge of a stock’s valuation. The higher the PE ratio the more overvalued a stock or share is. Below is a chart of the average PE ratio for the S&P500 (an indice of 500 large cap stocks listed on the NYSE and …
Unemployment in Australia has bucked the trend, coming in at a better than expected 5.7%. The Aggregate monthly hours worked increased 13.4 million hours to 1,522.4 million hours, after 13 months of declines. The strength of jobs, comes just days after the RBA increased the official cash rate to 3.25%. …
The RBA today has increased the official cash rate by 25 basis points to 3.25% on the back of a strong Australian economy. Interest rates have been at emergency 3.00% levels since April. Today’s rise makes Australia the first developed nation to increase rates since the start of the GFC.
While U.S. unemployment has hit a 26 year high of 9.8%, spare a thought for young Americans aged between 16 and 24 who are not studying – more than half are unemployed. The New York Times reports for this group, getting a job and moving out of the family home …
While economists were only expecting the lost of 180,000 jobs in the U.S., figures just released show in September 263,000 payroll jobs were axed, pushing U.S. unemployment up to a 26 year high of 9.8%. ยป U.S. job losses accelerate to 263,000 in September – Market Watch, 2nd October 2009.
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