Loan repayments are shrinking because of falling interest rates, but the amount needed for a deposit is rising.Financial comparison website, Ratecity, says the average Australian house price has risen to 544,000 dollars.

 

That's seen the cost of a ten per cent deposit rise by more than 1,400 dollars. But the good news is the monthly repayments are 195 dollars cheaper.

 

Wall Street has enjoyed another day of strong gains with the Dow Jones posting an all time high.The Dow reached a new peak of 14,716 before closing just slightly lower.

 

Microsoft and Intel led stocks in pushing the market higher.The S&P 500 also posted strong gains and came close to reaching its record high after last week's steep falls.

 

To the markets elsewhere:

 

London's FTSE closed about half a per cent higher.

 

To commodity prices -

 

West Texas Crude is trading at 94 US dollars a barrel. Tapis Crude is trading at 110 US dollars a barrel.and gold is worth 1585 US dollars an ounce.

 

The Australian dollar is buying 105 US cents, 80 euro cents and 68 pence sterling.