Mortgage interest rates unlikely to rise

Australian home loan mortgage rates are believed to remain untouched when the Reserve Bank of Australia's board meets this morning.
The Reserve Bank of Australia (RBA) increased interest rates three times last year in a bid to rein in inflation.
The official cash rate currently stands at 6.25 per cent.
The central bank has already met once this year and decided to keep interest rates on hold.
TD Securities chief strategist Stephen Koukoulas says while inflation is still higher than the Reserve Bank would like, it is unlikely to raise rates.
"The RBA is waiting to see if the rate hikes of 2006 cool the economy down," Mr Koukoulas said.
"It's too early to be sure that that's the case but they can afford to wait another month."
He says the conflicting news of too high inflation and low economic activity almost guarantees a decision to hold rates.
The RBA will announce its decision tomorrow morning should a change in interest rates occur. If interest rates remain the same then there is usually no announcement.
Source: ABC