Craig

But yeah, it's definitely not first time lucky for most people going to auctions.

No, you know what?

So it was a new house we were bidding for in Newtown.

It came down to two bidders, us and another family, both first time buyers bidding.

And actually we won the auction, but it was passed in.

So they refused to sell at that price point, even though it was well above the asking price.

This is the way the real estate agents kind of get us by giving a false asking price that's actually way above what the seller expects.

So we had to go into negotiations and we ended up agreeing to pay a few thousand more than the peak of the auction price.

And I was a bit concerned after we did that, that we'd overpaid, but the house is worth a fair chunk more now than it was in retrospect.

Yeah, this is true.

ANZ is the most recent one to join that group.

So even just a month ago from our panel of economists in our OEA survey, we were looking at a potential cut in November.

That's what most people were pointing to.

That seems to have shifted with most of the big four banks now saying we're not going to get a cut until 2021.

sick.

So we could be looking at static interest rates for the rest of the year.

Interestingly, even though that's the case, Westpac have actually made the move.

And even though they're predicting no cash rate cut, have dropped 10 basis points off their online home loan, bringing it down to 5.24%.

So it'll be interesting to see if the other lenders follow.

So basically, if they give everybody who's getting a new home loan a portion of a cash rate cut, even if the RBA themselves aren't going to do it.