Best time to buy a house?

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Just curious as interest rates keep going up here in Australia. Plus I do not really understand why housing and interest rates and everything else change so suddenly. If you could please point me to a site that gives a simple mans explanation to the world of finances. My friend said he’s waiting until theres a recession to buy a home but I just nodded and said good idea so not to embarrass myself as I have no idea what a recession would cause.

My family earns enough to comfortably afford mortgage repayments for a 350k loan but just don’t have enough knowledge in the area and don’t want to risk inadvertently putting my family at risk

1 Comment
  1. Reply
    May 19, 2011 at 10:12 am

    Unless you have a fixed-rate mortgage, the current mortgage interest rates are very important to deciding how much you should pay every monthcompanies offer different interest rates so it is a good idea to shop around for the best deal before settling on one particular lender.

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