As long as the rich control nothing will go down only up .

Anyone who is older and smarter (in this case) will tell you that you have been living in lala land..rising interest rates are normal..they will go up and down..and they aren't going to be zero anymore..if you were excessively greedy or really stupid you are going to crash..the banks don't care...no-one controls them....and it serves you right..you deserve it..don't whinge...everyone else before you has survived...in FAR FAR worse conditions (try 18 to 22% interest rates popette)... and got on with life.....anyone now with minimal intelligence should be fine...I am so tired of all the whinging....poor me!....you don't understand....we are struggling....you are NOT special.....maybe spoiled dim and weak ....but not special...and no-one else wants to hear about it....Yawn....NEXT! Edited 17-Sep-23 00:55am

How can anyone really know what is going to happen? No one can answer your question, it would be just what they believe will happen. There are always be people falling through the cracks and cannot afford many necessities for a happy life. Like with most, or all policies, there are some who believe the increased interest rates are a positive thing and other believe it is a negative thing. And they are looking at the same thing. It matters who, at the time, are in charge with the power to do what they believe to be the right thing. The rest of us just have to hang in there!

They were 22% in 1983

ANYONE thinking the rates will come down is not checking al sources. Turn off the idiotbox, The rates will not come down til USA is under control, DON'T HOLD YOUR BREATH. SORRY

For almost 40 years interest rates were around 9% then they rose very sharply in the mid 80's to 18%. Personally, I think the current interest rates are extremely low and if consumers cannot cope with the current rate, they should not borrow.

I don’t know.

In the 70's the home interest rates went up to 17% - Inflation? / Greed ? / the banks never seem to increase savings loans (if you can manage to save!) at the same rates. Blame greedy investors that force the house prices up.

I think they'll start reducing around the end of this year or beginning of next, hopefully in time for me to renew again for a lower fixed rate.

Probably not.

NO WAY OUR MAJOR BANKS IN NZ ARE ALL AUSTRALIANED OWNED AND THEY RIP US OFF MORE THAN THEY RIP OF THEIR OZIE CUSTOMERS. THATS LIFE, SUCK IT UP!!!

no, banks are just gready

You know the old saying "what goes up must come down", well that applies to both interest rates and the stock market. However, the economic outlook for Australia isn't very good at the moment with high inflation, high immigration and rising energy prices. Prices can't go down while everything is rising so until things even out nothing is going to go down. We thought 17% interest rates would never go down but they did eventually and after a change of government.

Mortgage rates WILL decrease. The only question is when.

The 2-3% savings interest rates that we had a little while ago were pitiful for those of us trying to save money. 😞 The 5-6% now is better for savers, but not at the heights of around 8% there was 10 or so years ago. Those of you in New Zealand with loans can at least be thankful that the current finance man in government refused to keep raising the rates any higher as many "experts" said he probably should have.

nobody knows what the future holds & 0 % are unlikely to appear for a very long time

If you want to save money on your loan n get the bank to to deduct the interest every fortnight in lieu of monthly. It will sure help so check it out.

I had a loan for my unit and I think the interest was over 15% plus but I managed

They will come down . Interest rates were at 18% or more in the 80's and came back down so things will get better eventually ( we hope)

Eventually

It hard to get home loan rates back down nowadays is because of inflation.

They will come down again as its a cycle

Another time of financial challenges for home owners, in fact aren’t we all affected? Moderation’s in our daily lives, will help, while we face this roller coaster ride, teaching us gratitude and resilience…

I really don't know, or care. We moved out of our 3,700 sq. ft.house 7 years ago because the taxes and mortgage payments were too high. We now live in a 1,700 sq.ft.townhouse. No taxes, no maintainence fees, trash pickups and snow clearing included. Also, lawncare and household maintainence included, what more could you ask for?Edited 17-Sep-23 12:43pm

Its no longer economical.its now political.. banks are making super profits and the economy is heading to depression and people will be losing their homes and or going bankrupt.

I’m hopeful they will drop a little but with such unpredictable times who knows for sure

who knows?

Purpose of raising interest rates is to help economy get back on track. When i actually did my research and read about inflation and interest rates i fully understand those desicions. People borrow money for everything, countries are in astronomical debts this is not the way to go. I get this situation causing lots of stress for many people but i do believe this eventually gonna slow down borrowing and control money circulation. If the economy get stable and inflation will get lower rates will go lower encourage people to borrow. It does make sense. Borrowing money putting people into risk always.

Of course, they will come down. There have been times in the past when interest rates were high, but they always managed to come down again. This time it will be no different. It's a matter of supply and demand.

I think in a year or two they will slowly go down as the cost of living goes down

We're already at the point where the housing market for the general population is getting smaller and smaller. While interest rates will come down, the cost of housing will forever climb higher and higher. Hooray for capitalism and the 'free market'. Too many people have too much money to throw around and uncontrolled bidding wars make sure that the term "affordable housing" is a something nostalgia lovers will drool over. Affordable housing? Affordable for who? Housing starting at $450,000 certainly eliminates a majority of the population. With new developments (in the Toronto, ON, Canada anyway while there are other jurisdictions with the same trouble) starting at $950,000 and up, only millionaires and billionaires can afford to buy them.

im not sure

Eventually I hope.

Most people want to own a house and the majority have to take out a loan which is OK as long as you are able to afford the loan rates. The problem is that people are buying houses and starting loans that are above their affordability. They should allow for fluctuations and be prepared for rises. It is important not to buy anything you cannot afford or maintain. Getting into debt and taking out a loan to pay for it only puts people more in debt overall. If possible, it is good to pay a little more off your loan every week or two. Consider it to be like a savings account with a reasonable interest. By doing this you will get your home paid for much more quickly.

Slowly a little bit at a time, they go up quickly but like fuel prices, always slower to come back down. They are already starting.Edited 16-Sep-23 12:55pm

Yes they will as soon as Aust government get inflation back to reasonable level.. this should be in 2 months time

Hi there well it seems that everything is sky high and interest is high sort of and I understand, I also think that some companies are taking advantage of the inflation. I see groceries going goofy. Prayers for all..

House prices always go up unless there is an outside influence on them like being in a Flood Zone. As for Interest Rates they move with the market I bought a house when they where 18% + and my savings have dropped to under 1% on the money they have in the bank. Personally I would like to see them up at a decent rate so I get a decent return on my money.

Interest rates are higher than they have been for a while, which is great news for savers (especially many elderly people who rely on that interest as an income source) and bad news for loan / mortgage holders. Here in New Zealand the "experts" are predicting the interest rates will remain as they are until at least next year before starting to coming down again. Nobody can predict the future. Anything could happen tomorrow which means the rates "have" to be increased again or suddenly decreased. The fools in charge are constantly playing around with the interest rates. What they should do is simply set it at a middle ground that keeps both savers and loan holders relatively happy, and then stop mucking about. (The supposed reason for changing it is that high interest rates are meant to stop people buying expensive things, and therefore reduce inflation, but the reality is it never actually works that way.)

A lot has to happen for that to happen, threat of wars, inflation, cost of living and global warming!!

Maybe watch money as debt, money as debt promises unleashed, money as debt evolution beyond money, on youtube.

The home loan rates are designed to come up or go down in what ever way is neccessary to make sure that a certain percentage of houses are owned a certain percentage are rented, and a certain percentage are on morgage. they can never all be owned it is impossable. So yes the rates will come down again when the time comes.

Yeah at least they aren't 18% stop your whinging until they are. No one else's fault some of the younger ones have a hell of a lot more than what I had at their age. Some with 15 houses, not just 1 like we had. The house we lived in was 30 years old not brand new with a butlers pantry and a swimming pool. So no hopefully they will stay where they are and we are finally being rewarded for the little bit of hard earned money we have in the bank. Plus banks need to be super careful as if the rates do drop dramatically people will simply invest their money else where so they won't have any money for people to borrow against. I know they have a lot less money of ours because of it. In China I was reading the other day for them to own a house or unit they needed 80% deposit and recently they have dropped it 30% deposit. That's a huge difference. Edited 16-Sep-23 11:01am

Not sure if or when but being forward thinking like Noah and his Ark, in my mind I am imagining a slippery downward slide with great anticipation!

Firstly The inflation rate needs to come down before there is any chance that interest rates might? Fall Secondly The current rates are still lower than “normal” Remember when they were 18% And were then generally in the 7-10 range Thirdly It’s the price of housing that is the real issue Who can afford to buy now when I see the median is closer to $1M and rising

They seem to go up and down

Not in Canada, they were not. Mabye in your country.

we own our house but i think this generation won,t have a house untill we turn our tose up and then they will have to split it

I desperately hope so. Rolled off fixed right into the frying pan. Added $400 to fortnightly repayments which was my grocery petrol everything else money. We are a single income family. Husband on disability pension but gets nothing. Working extra day and a half to cover it. Trying to renovate as well. Haven't sold anything yet. Feel quite desperate at times 🥺

They have always gone up, gone down. That's why they are called "Variable". The big problem is that when they go Down people seem to forget that, eventually, they will go back Up again. They put themselves into greater Debt than they probably know they should not do. It was during the Very Low Interest Rate period in Australia that Australians were building the Biggest Houses anywhere in the Developed World and going in over their heads in debt to do so. OK, so the then Chief of the Reserve Bank of Australia said in 2021 or 2022 that Interest rates may remain low until 2024 but they started rising in 2023 but he did so given the then current Inflation Rates, but people still went on borrowing more than they should have. Australians seem to have adopted the idea that "Nothing is MY Fault, I am the Victim and The Government should do something." Wrong, wrong, wrong.

Some people have short memories, they seem to forget that during the Covid, Banks seemed to bend over backwards to help those that needed short term relief ,during that period interest rates were low and banks are just doing what Reserve bank wants them to do - only faster

I believe they will come down eventually

no Emma

I hope not, I need the interest on which to live!

They will come down again in time. Still one of the best investments you could make in your lifetime. We bought our first house when interest rates were12.5% and had to give up going out to eat at nice restaurants but it was so worth it!!!

properly will come down, at some stage but not as much as it went up, even if the economy gets better.

I remember when interest rates were 17%, so today's rates are low. Problem is people don't cut their cloth to what they can afford. These days they want big houses, all mod cons, everything installed, carpets, dishwashers 2 new cars etc. If you can't afford repayments on one wage then you should be getting something you can afford.

I think they may come down again but it may not be for another 2 years when the rates are stable and the goverment get back on track with the debt rate maybe things will get better

Interest rates are still very low in comparison to historical rates but house prices make the current rates unaffordable. People are borrowing beyond their means to get the house of their dreams first off instead of buying small and working towards the house they really want. My parents built our childhood home when they first married and added on and made improvements as the family grew and needs changed. Our house was originally a 3-bed, 1 bath, 1 living room with a fireplace and ended up a 5-bed, 2 bath, 2 living rooms with an extended dining room and central heating throughout to accommodate the family of 7 that we ended up as. To a certain extent, people's greed and immigration has pushed up house prices, which also has an effect on the amount of interest they have to pay, regardless of the rates.

Probably go up but hopefully come down

It's a sad state of affairs to be honest. On the one hand you gotta feel for those with mortgage stress. On the other hand it's the best time for retirees living on fixed interest returns. I went through Keating recession we had to have when interest rates were over 18 percent. Even with 2 jobs I could not keep up with the payments. And ultimately forced out. Although the mortgage was considerably lower its all relative. It may in this case not get to that point with greater regulation. But until the source if the problem is fixed high prices chinese buying up property shortages. Prices will continue to rise and mortgages will continue to get larger. People will continue and will always continue to suffer mortgage stress it's inevitable. Edited 16-Sep-23 07:59am

They may continue to go up for a few months yet.

They will come down, it's a cycle they'll have peaks and troughs

It seems to go from one extreme to the other. Cost of living in itself is ridiculous. We fortunately own our home.

Nothing. When my dad buy his house was 15 per cent. I don't know dad was paying the house off with kids and house wife. Now days if go up 1 per cent people's cry. Go up but people's don't want cut down on stuffs. Be smart end of the day. Live how much you can not what you can't live inEdited 16-Sep-23 07:22am

There is always the other side of the coin with those like myself that are receiving higher interest on their savings. I paid sixteen percent a long time ago on mortgage when I brought my home. It is the war that Russia declared that needs to be financed to buy weapons to kill each other that is causing the demand for money and helping to increase interest rates. Property prices will fall slowly with a shortage of money to buy property. A study of history will help predict the future.

You must be young if you are freaking about "high interest rates" when the cash rate is only 4.1% in Australia which puts mortgage rates at between 5-7% which is nothing. I have seen mortgage rates at 20% and when they came down, they were sitting at 10-12% for a long time. Interest rates need to go up but they have been flat for the last few cycles.

When we have a government that stops spraying free money around, we will get current account and debt back in control (slowly) and rates will start to ease. There is no point hoping for interest reduction until government starts to lead by example !

we saved our money before we bought our house, car, furniture etc. so thank God we never eperienced borrowing nor paying any mortgage.

People already here in this country can't pay.

They are low when we had rates of 17% people said the would not come down we went to work and paid extra off our loans.

No...not when more than 57 percent of 34- 55 age range are living paycheck to paycheck..

As long as people are prepared to pay through the nose for a home loan, they'll stay up!

In the near future, no , I don't think the rates will come down, because we are in recession, acknowledged or not. In the far future, mabye, if nothing else comes up to disturb the fragile balance in the economic growth of the country

No they will not. The only thing coming down is house prices. How many people have lost up to 200000 dollars after they bought at inflated prices. On top of that they are also paying rates on those expensive increases

not sure

I think interest rates may go down - and up again - as always, but I believe the prices of food and gas and homes will just continue to rise. Inflation is here to stay and continue to make minimum wage go up; it's a cycle that's been around for many many decades and not about to stop now. The rich will continue to get richer and the poor poorer. And, the rich don't care; they see the world as having too many people and don't care how they get the numbers down. I saw Bill Gates at a conference saying he will continue to lower the population "with vaccinations" and this and that. He actually admitted it. Like Fauci did a few years ago. They're so cold and bold they don't care that we know that they're doing it. These are not conspiracies; look up the videos for yourselves.

We will all have to tighten the belt

looks like it's going to be sometime before anything happens how I SEE IT...

I CAN'T REALLY SEE IT, AND THIS IS LOOKING INTO THE FUTURE.

I believe no one has the answer

Don't know and don't care (when home loan rates will come down (if ever))! I own a condominium. Not trying to buy a house.

Who knows?

Some time in mid year 2024 but I think we will see a couple of more rises before Xmas as we have all the Xmas shopping to add to the inflation yet .also the big jump in house prices have added to it .

It is going to be for long time

Not before I am dead...maybe in 10years

We are there already. Many homes are now going up for sale due to not being able to afford the mortgage payments. Many are going without the necessities trying to hang on. Will interest rates go back down, probably but not to what they were I do not think.

probably after the election in US

its aq guessing game up down sideways

They always come down eventually.