Australia’s western state has led the charge in home value growth for yet another month. The latest home values data released by CoreLogic’s Home Value Index (HVI) has revealed that Perth continues to dominate the leaderboard in home value growth out of the combined capitals, with home values increasing by 1.6 per cent in January. […]
Predictions from the big bank economists and markets have foreseen interest rates to hold steady in December. In the lead-up to the Reserve Bank of Australia’s (RBA) final monetary policy decision for 2023, the big four bank (NAB, CBA, Westpac, and ANZ) economists have all predicted that the central bank will pause the cash rate […]
The income needed to service new mortgages on the average dwelling value has increased year on year, a new report has found. Prospective home buyers are now required to dedicate 46.2 per cent as of September 2023 (up from 40.3 per cent during the same period last year) of their income to service a new […]
The federal Treasurer has warned the latest rate hike will put further pressure on mortgage holders. Speaking at a press conference in Sydney following the Reserve Bank of Australia’s (RBA) Melbourne Cup Day rate decision (7 November), federal Treasurer Jim Chalmers stated that the move to raise interest rates will “make life harder for people […]
It’s very rare that anything overshadows the Melbourne Cup on November’s first Tuesday. The Reserve Bank of Australia’s (RBA) much anticipated cash rate decision did just that. The Reserve Bank of Australia has opted to raise the cash rate 25 basis point to 4.35 per cent. Leading into the central bank’s November board meeting, there […]
Whether further rate rises lie in store for Australians in the next few months will be determined by three economic factors, according to a big four bank. Luci Ellis, Westpac’s economic spokesperson and head of the bank’s research, explained that while many are predicting this era of rate rises to have concluded, there are a […]
New data has revealed the ongoing climb in mortgage arrears among a backdrop of high interest rates and inflation. According to the latest data for residential mortgage-backed securities (RMBS) released by Moody’s Investor Services, the share of prime quality home loans that were at least 30 days in arrears (30-plus day delinquency rate) rose to […]
Households are spending more money on housing and arrears are rising, but the majority are able to service their debts, the RBA has said. The Reserve Bank of Australia (RBA) has released its half-yearly Stability Review, revealing new figures on mortgage pressures. Payments on variable rate loans had increased by between 30 per cent and […]
The central bank continues to wait for the effects of its monetary policy tightening to be fully realised through the economy. On the heels of its third consecutive hold in the cash rate, leaving it at 4.1 per cent, the Reserve Bank of Australia (RBA) confirmed in the September minutes that it is still waiting […]
While accumulated household savings are helping cushion impact of high rates, consumer spending is set to slow as borrowers approach record-high mortgage repayments. Over the next 12 months, consumer spending is set to “slow significantly” as excess savings dwindle and mortgage repayments climb to record highs, AMP deputy chief economist Diana Mousina said in the Econosights […]
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