06 August 2009
ANZ is marketing a rate hike
I note that Mike Smith is quoted in the press today commenting that the banks might increase home loan rates before the RBA. Why? Maybe they are still annoyed that they will have to “follow the leader” and cut overdrawn fees like the other 3 banks. Just watch this space... the banks report their financial results soon and all eyes will be on their ‘cash profits’ from home loans to see if they are suffering or profiteering.
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Any investment can be overpriced no matter how great its fundamental value or how secure its prospects. In the absence of a more thorough analysis, it's reasonable to suspect that investments in a market that has been rising for a long time are overpriced. In itself that guideline isn't a signal to sell, it is a signal to make a closer examination.
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