After much speculation over the last couple of months, with plenty of people split over which way interest rates would go next, the Reserve Bank last night dropped them a quarter of a per cent to a new record low of 2.25 per cent.
The apparent slump in first-home buyer numbers isn’t quite as bad as analysts thought.
The surprise drop in Australia’s unemployment rate in December has proved an anomaly with the figure surging back up to 6.4 per cent in January.
The housing market needs careful monitoring according to an overwhelming number of members of the Reserve Bank Board.
Brokers account for nearly two thirds of the growth in the home loan market over the last year but their share of the entire mortgage market dropped in the December quarter.
When our economy is sluggish and it needs a kick along the best way to initiate activity is to cut interest rates right? Wrong, according to one of Australia’s leading economists.
The RBA surprised a few pundits yesterday when they left interest rates unchanged at 2.5 per cent.
The country’s biggest mortgage broker, AFG, has reported a 16 per cent jump in the value of home loans processed last month after interest rates were cut quarter of a per cent back in February.
The Abbott Government’s financial systems inquiry head David Murray says Australia needs to introduce limits on borrowing.
The large and continually growing supply of apartments in Melbourne is failing to deter offshore investors.
