National Mortgage Interest Rate

becca m asked:


How are why did this happen? How does this affect us.

SYDNEY, Australia - Prime Minister John Howard on Sunday called general elections in Australia for Nov. 24, cautioning voters about his opponent’s plans for a withdrawal from Iraq and reminding them he has overseen the country’s long economic boom.

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Howard, one of Washington’s staunchest allies in Iraq and the broader war on terror, is seeking a fifth term and hoping to save his reputation from the final judgment that he should have quit while he was ahead.

Labor Party leader Kevin Rudd, a Chinese-speaking former diplomat 18 years Howard’s junior, has held a commanding lead in opinion polls since December over the 68-year-old prime minister, whom he claims is out of touch after more than 11 years in power.

The six-week campaign, long by Australian terms, ends months of intense unofficial politicking.

While domestic issues such as the economy, education and the hospital system are likely to dominate the campaign, Iraq and global security lurk in the background.

Howard has maintained close ties with Washington — Australia’s most important foreign partner — and sent 2,000 troops to join U.S.-led invasion of Iraq in 2003. He has said the 1,600 Australian forces still in the country will stay as long as they are needed.

Rudd has promised to withdraw Australia’s 550 combat troops, in consultation with Washington while leaving the rest in training and other roles.

Howard on Sunday conceded his Iraq policy was unpopular with many Australians, but said withdrawing too soon would embolden terrorists worldwide.

“I know a lot of people don’t agree with me, but I do not think it is in Australia’s national interest to participate in a premature withdrawal from Iraq,” he said.

Howard is counting on a boost from more than 15 years of economic growth, which he said only he had the experience to continue to ensure, and warned the public not to trust Rudd and his party because they are untested in government and beholden to labor unions.

Rudd countered by mocking Howard with a list of perceived failings.

“Mr. Howard has had a lot of experience in taking Australia into a war without an exit strategy,” Rudd said, referring to Iraq. “Mr. Howard has a lot of experience in denying that climate change represented an economic and environmental challenge for this nation’s future.”

There is no sign the prosperity, fueled by China and India’s voracious demand for Australia’s coal and other minerals, will end soon, and Howard is running on his stewardship of the economy despite five recent interest rate hikes that have sent mortgage repayments higher.

Rudd says he will mirror the government’s successful economic policies, while accusing Howard of being too old-school to tackle modern issues like global warming and a high-speed broadband network.

Howard, 68, became Australia’s most powerful leader in a generation in the previous election in 2004 when he won control of both houses of parliament. But his popularity has slipped in opinion polls, which now show the margin of around 4 percent he holds in his Sydney suburban district may not be enough to stop him from losing his seat in parliament — a humiliation suffered by only one other prime minister in 100 years.

Kavan Lee asked:


Assume 700,000 principle. Credit score of approx. 775. Location is Bay Area, California. 30 year term.

At this stage of the game, is there any downside to going with a small lender versus a huge national bank? That is, is there a benefit to going with the big bank that would justify accepting a slightly higher rate?

Thanks.