http://www.townsvillebulletin.com.au
THE decision by the Reserve Bank yesterday to increase interest rates for the sixth time in seven months is set to make home ownership that much harder and further dampen consumer spending.
First homebuyers will be an endangered species.
According to Townsville economist Colin Dwyer, the rises, along with banks' own rate increases in January, have added about $400 a month to the average $300,000 Queensland mortgage.
He said every mortgage holder would be looking to trim their budget.
