The Federal Government wants to axe new responsible lending laws amid the COVID economic downturn but it might have a tough time getting it through the Senate.
New South Wales has announced plans to phase out stamp duty and it’s getting support from both sides of politics, as well as the Reserve Bank governor.
The Australian economy is showing good bounce as it starts to move out of its COVID-affected recession.
The federal government is looking at extending best interest duty to all credit assistance providers, not just mortgage brokers.
Smaller lenders have been quick to immediately pass on the RBA’s interest rate cut to customers but the big four weren’t so trigger-happy.
The Reserve Bank has gone all-in on propping up the economy by cutting the official cash rate to 0.1 per cent – the lowest it has ever been in Australia.
The Reserve Bank says Australia has already started to exit its recession and the lockdowns in Victoria haven’t affected the national economy as much as first feared.
Investors are swooping in on the COVID-hit inner-city apartment market as Melbourne begins its slow exit out of restrictions.
Rents in inner-city Melbourne are struggling under the COVID lockdown but they are performing better in the outer suburbs.
The COVID-19 pandemic and associated lockdowns have seen home owners sink more payments into their loans.
