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On Tuesday the Reserve Bank increased interest rates for the first time in 11 years and rates are expected to increase sharply over the rest of 2022. We have already seen a slowdown in home price growth sparked by buyer expectations of rate rises. But what will higher rates mean for the housing ...
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The RBA has increased interest rates by 25 basis points to 0.35 per cent. The Reserve Bank of Australia (RBA) has increased the nation's official cash rate for the first time in more than 11 years, and three of the nation's big four banks have already passed the rate rise onto customers. Today ...
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Product caters for borrowers with clear credit history A new mortgage product is capitalising on growth in the near prime lending category. Launched by non-bank lender Pepper Money on Monday, Near Prime Clear caters for borrowers with a generally clean credit history and is in response to deman...
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Perth's rental market is becoming increasingly expensive as low vacancy rates bite. Australia's rental markets are becoming increasingly expensive again, as vacancy rates fall across the country. Perth tenants are now paying 12% more than they were 12 months ago, while Darwin houses cost almost...
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Demand for mortgages is starting to rise reveals the latest Australian Bureau of Statistics figures. Up to $26.5 billion worth of housing finance commitments were made in July this year, marking the second consecutive month of increases. ABS chief economist Bruce Hockman said growth in new lend...
Read MoreOverview 3 October 2020: The Australian Government has announced an additional 10,000 First Home Loan Deposit Scheme places will be provided from 6 October 2020 to support the purchase of a new home or a newly built home. More information will be available on the NHFIC website from Tuesday 6 Oct...
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The Reserve Bank says with interest rates to remain lower for longer, all levels of government can borrow for job-creating projects. The Reserve Bank could push interest rates closer to zero to help the economy out of the coronavirus recession as it presses all levels of government to use their ...
Read MoreA new front in the home loan interest rate war has broken out, with variable interest rates falling below 2 per cent for the first time. A smaller lender is offering a variable-rate home loan of 1.99 per cent and more lenders are expected to follow suit, as competition for new mortgages intensif...
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with global stock markets swinging wildly from one extreme to the other as the coronavirus Covid-19 continues to spread, investors are feeling cold feet. But according to property experts, the tough economic climate could actually be viewed as a lucrative opportunity. “In times of economi...
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Our nation’s capital might have a reputation for its umpteen roundabouts and bland politicians, but Canberra is shaping up to be a rare real estate beast that is proving profitable both in the long and short term. “It can be very attractive for investors who are looking at capital gr...
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Oscar Ledlin went from washing dishes in a Thai restaurant at the age of 14, to pushing barrows of concrete at 18, to building a multimillion-dollar commercial construction company by 21. “I wanted to have a $50 million development portfolio before retirement,” he told the Heral...
Read MoreThe Reserve Bank of Australia has cut official interest rates by a quarter of a percentage point to a fresh record low of 0.5 per cent as it attempts to protect the Australian economy from the financial fallout of the coronavirus outbreak. Westpac was the first of the major banks to react to the...
Read MoreHousehold lending has increased over the last quarter Interest rates are helping first home buyers to get into the market. The HIA said figures released by the Australia Bureau of Statistics this wee...
Read MoreThe Reserve Bank of Australia (RBA) cut the official cash rate on Tuesday to 0.75%, and gave its strongest indication now that it might go to 0%. Australia is headed out to the economic unknown for the first time. (Photo by Paul Kane, Getty Images) The Reserve Bank of Australia (RBA) cut the ...
Read MoreReserve Bank governor Philip Lowe has signalled further cuts to interest rates as early as next week to keep ahead of tumbling global rates while urging the nation's businesses to use the abundance of cheap money to expand and hire more staff. Reserve Bank governor Philip Lowe has signalled fu...
Read MoreThe Reserve Bank has cut the official cash rate for the second month in a row to a fresh record low of 1 per cent as it desperately tries to pump some juice into Australia’s stalling economy. The Reserve Bank has cut the official cash rate for the second month in a row to a fresh recor...
Read MoreANZ Banking Group is loosening some of the clamps it put on interest-only mortgage lending in 2017, after pledging to reopen the door to property investors following a period of excessive caution. The big four lenders on Thursday said it would again start offering customers an interest-only peri...
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