Home owners are still refinancing their mortgages, even as the property market remains flat, the latest Bankwest/MFAA Home Finance Index has shown. The Home Finance Index, which surveyed more than 1,139 respondents, revealed that one in four (24.7%) had refinanced their loan in the past two years and 14.2 per cent had refinanced in the previous year, an increase on the previous HFI.
AUD/USD – Short term trend UP, Long term trend UP
The AUD/USD broke through resistance of 1.0600 and has traded as high as 1.0792. RBA leaves rates unchanged and downgrades the Australian growth forecast. The global growth outlook is a concern for the RBA with European sovereign debt issues weighing on the European banking system.