Global Financial Crisis

When economies around the world head into a recession and other events simultaneously occur such as stock markets collapse, major companies go into receivership, capital dries up and the world experiences a global financial crisis. Some countries are hit harder by a global financial crisis than others, where their major banks go bust and other nations need to help. Other countries that are regulated much more heavily and are protected by a wealth of natural resources are not as impacted by a global financial crisis. The housing market usually suffers during a global financial crisis because funding is tight, construction slows, unemployment rises and so too does home loan interest rates. But economists say a global financial crisis is often unavoidable and all part of the economic cycle.

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The table below displays todaya??s best 3 year fixed home loan interest rates, offered by banks only.