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Mortgage interest rates continue to fall in australia experts


´╗┐HOME loan interest rates are continuing to tumble with dozens of deals getting even cheaper despite the cash rate staying on hold.

About 180 fixed and variable rate loans fell in September and now a large chunk of offers are well below the four per cent mark with expectations of further drops in the coming months.

The Reserve Bank of Australia meets on Tuesday for the first time under new governor Philip Lowe, who is expected to keep the cash rate on hold at the record low of 1.5 per cent.

But latest analysis by financial comparison website RateCity shows in September more than 100 variable rate loan deals plummeted by an average of 0.17 per cent.

And on fixed-rate loan deals more than 70 offers fell dropping by an average of 0.23 per cent.

St George senior economist Hans Kunnen said while the cash rate is likely to stay on hold this month, another cut is imminent which would take it to 1.25 per cent.

We suggest theyll be another cash rate cut in November, we still have very low inflation and domestic demand is weak,’ he said.

Mr Kunnen said Australias cash rate remained much higher than other countries including the US, which has a cash rate of 0.5 per cent.

Low inflation figures have also remained of concern to the RBA board.

RateCitys database shows on a $300,000 30-year owner occupier loan the lowest variable rate deal is offered by Reduce Home Loans at 3.35 per cent.

On a three-year fixed deal the best offer is by Bank of Queensland at 3.59 per cent.

RateCity spokesman Peter Arnold expects more mortgage deals to creep downwards in the coming months.

While the cash rate is on hold we are still getting home loan cuts as theres so much competition to get new customers,’ he said.

If youve been sitting on a rate its as good a time as ever to get a good deal as theres a lot of the banks fighting hard for customers.

Mr Arnold said owner occupier customers should definitely be scoring deals below the four per cent mark if they have a decent deposit or some equity in their home and said it would open them up to the hottest rates in the market.

Retail managers rant over 17yearold shirt and vest ensemble goes viral


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WHEN is it too late to return an unwanted item of clothing for exchange?

While most of us realise that returns need to be made in a timely manner to qualify for a refund, it seems one shopper hasnt clued on but they managed to get away with it anyway.

A hilarious post on Reddit appears to show that a cheeky consumer tried to return a Gap shirt and waistcoat combo to the store almost 17 years after it was stocked.

Astonishingly, whoever was working that day appears to have accepted the return which still had the tags on if the posted image is to be believed.

The outfit is accompanied by what appears to be an irate note penned by the store manager, reading: Who on Earth accepted this as a return?!?!?! This item is from the summer of 2000! That was almost 17 years ago! Our return policy is 45 days! If youre not sure, ASK!

Several Redditers commented on the noticeably outdated style of the outfit, dubbing it The Chandler Bing collection.

The post quickly went viral, attracting comments from retail workers who discussed how the shirt, a size XL which retailed for $US24.50 at the time, could have been refunded.

Im amazed that their [point of sale] software would allow a return that old without a managers approval, one commenter wrote.

Also amazing that the manager didnt know who accepted the return, which would be nearly impossible at any GAP, another added.

But one possible explanation was raised by a retail worker who suggested: Im sure the employee scanned the barcode and it came up blank in the system. The customer was probably throwing a fit, so the employee just shrugged, rung them up for store credit, then moved on with their life ... GAP lost a couple dollars but the customer is happy and they can throw this on the clearance rack. NBD [no big deal].

Another noted that that some cashiers at Gap still had the ability to manually enter returns.

Former Gap workers pointed out that the company apparently had a no-time-limit returns policy at the time of the sale.

On the back of the receipt it actually said that they return it any time, as long as it was unwashed/unworn, one former worker said.

Yes, theyve changed the policy, but that wasnt part of the agreement when it was purchased.

Another said: I worked for Gap from 2001-2005 and the deal was that as long as it was unworn they had a receipt we had to take a return, which could mean accepting Levis which Gap used to sell when it opened in 1969!

And finally: If someone can manage to keep their original receipt from a clothing purchase for almost 17 years (and have it be in readable condition), damn ... They deserve that return.

The Gap ran a series of commercials featuring dancing and singing in front of a white background. These were popular and led to several spin-offs, including variants for Christmas, kids gap and these celebrity musician series.