The Reserve Bank has long been staunch on interest rates remaining where they are until 2024 at least, but economists are starting to disagree.
After what seems like an eternity there are signs of life from the nation’s inflation figures and it could mean interest rates start heading north.
The gap between unit and house prices in Melbourne continues to widen and it’s making things difficult for some people looking to upgrade from their little unit to a bigger space.
Economists say APRA’s new lift to the borrowing interest rate buffer will slow house price growth and is effectively an interest rate hike.
The regulator has stepped in with new rules that make banks check if borrowers can afford repayments if the interest rate was 3 percentage points higher than the loan product rate, which is a rise from the 2.5 per cent previously.
A new Productivity Commission report has found that non-bank lending is on the rise.
Hot housing markets around the country look set to attract a crackdown from the Treasurer Josh Frydenberg.
Melbourne’s city office towers are basically sitting empty as the state capital rides out the current coronavirus lockdown.
The Reserve Bank governor Philip Lowe says he’s confident the Australian economy will bounce back strongly from the extended eastern states lockdowns and insists interest rates will remain low for years to come.
The Reserve Bank has kept the official cash rate on hold again this month, but it hasn’t stopped banks from slashing variable mortgage rates to try and lure customers.
