Hobart and the Gold Coast’s property markets are starting to benefit from the price downturn in Melbourne and Sydney.
While the chaos of this week’s banking royal commission final report has attracted most attention in the finance industry, the RBA this week kept interest rates on hold at 1.5 per cent for another month in its first cash rate announcement for the year.
Mortgage brokers are reeling and angry today after the banking royal commission final report put the industry on shaky ground.
Lenders are preparing for a possible interest rate cut from the RBA by letting the discount rate between floating and fixed rates widen by up to 30 per cent.
The final report from the banking Royal Commission is imminent and mortgage brokers and small lenders say if it leads to an overhaul of broker fees it could be bad for borrowers and good for the major banks.