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. The RBA confirmed today that it will be keeping the cash rate on hold at 10 basis points. The Board restated its position on keeping the rate at its current level "until actual inflation is sustainably within the 2 to 3 per cent target range [which is not expected to occur] until 2024 at the earliest". The RBA acknowledged that "housing markets have strengthened further, with prices …
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. The RBA confirmed today that it will be keeping the cash rate on hold at 10 basis points. The Board restated its position on keeping the rate at its current level "until actual inflation is sustainably within the 2 to 3 per cent target range [which is not expected to occur] until 2024 at the earliest". The RBA acknowledged the renewed strength of housing markets across Australia, also …
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The federal government's bill to wind back responsible lending laws received strong endorsement from the Senate last week when the Economics Legislation Committee tabled its report recommending that the bill be passed. Echoing the Morrison government's rationale for introducing the bill, the official view of the committee includes a statement describing the "current credit protection framework …
In the RBA's first monetary policy announcement for 2021, it was predicted that the conditions for a rise in the interest rate wouldn't "be met until 2024 at the earliest". This statement gave many potential homebuyers added confidence about how much they could afford in terms of mortgage repayments. However, as pointed out by ANZ's Head of Australian Economics David Plank in this …
With many confident the RBA will be cutting interest rates at the upcoming June meeting, Australia's banking regulator APRA (Australian Prudential Regulation Authority) has announced a proposal to scrap a rule requiring mortgage customers' lending capacity to be assessed at an inflated interest rate. Introduced in 2014 as a measure to contain rising house prices and housing investor loan …
Houses for sale in Australia are now experiencing longer listing times now that banks have tightened their lending criteria for potential homebuyers. In Sydney alone, homes were taking 43 days on average to sell based on data from CoreLogic. Darwin had the slowest turnover with 93 days while properties in Hobart were selling the fastest. A mortgage shopping study showed that while investors …
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