How A 0.5-Point Interest Rate Increase Affects Your Home Loan
This week, the Reserve Bank of Australia announced its fourth straight monthly increase in the cash rate, and more rate hikes are almost certainly imminent. As of August 2022, the cash rate target is 1.85%. What Happens When Interest Rates Rise? The cash rate rise directly affects the variable interest rate on your home loan. […]
Housing Value Decline Comparable To 2008 Financial Crisis
CoreLogic’s Home Value Index recorded a third straight monthly decline in July 2022, falling 1.3%. Five of the eight capital cities experienced a decline during the month. Sydney and Melbourne’s home values fell 2.2% and 1.5%, respectively. Home values in Brisbane were 0.8% lower, the first decline there since August 2020. Canberra and Hobart also […]
Cash Rate Decision August 2022: RBA Raises Cash Rate To 1.85%
The Reserve Bank of Australia (RBA) increased the cash rate by half a percentage point today, taking it even higher, to 1.85%. How Does The Cash Rate Increase Affect My Interest Rate? Lenders add a margin to the official cash rate to determine the variable interest rate they lend to customers. So if you have […]
ANZ and Westpac Could Offer Loans Under Home Guarantee Scheme
On 25 July 2022, The National Housing Finance and Investment Corporation (NHFIC) requested a proposal of process from ANZ and Westpac, in an effort to get the banks to join its lender panel for the Home Guarantee Scheme. Currently, the scheme is available through two major lenders – CBA and NAB – and 30 non-majors. […]
The 2022-23 Queensland Budget Highlights
The Queensland budget (2022-23) includes: $200 million over three years for growth infrastructure to unlock more housing supply $10 million in support over two years to address land supply, population growth and property development challenges across South-East Queensland $95.8 million through the Queensland First Home Owners’ Grant to assist first-home buyers $123.2 million for HomeBuilder […]
Cash Rate Decision July 2022: RBA Raises Cash Rate To 1.35%
The Reserve Bank of Australia (RBA) increased the cash rate by 0.50 percentage points in July, taking it even higher, to 1.35%. How Does The Cash Rate Increase Affect My Interest Rate? Lenders add a margin to the official cash rate to determine the variable interest rate at which they lend to customers. So if […]
House Values Fall For The Second Month In A Row
CoreLogic’s Home Value Index recorded a second straight monthly decline in June, falling 0.6%. Dwelling values in Sydney and Melbourne fell 1.6% and 1.1%, respectively. The values in Hobart and regional Victoria fell 0.2% and 0.1%, respectively, in June. Every capital city and broad rest-of-the state area has moved past its peak rate of growth, […]
Shared Equity Scheme Trial By NSW: What Homebuyers Need To Know
On Tuesday (June 21), the NSW Government unveiled its budget of $2.8 billion, which includes a trial shared equity scheme to counter the ongoing housing affordability crisis. Through the scheme, the state government plans on contributing up to 40 per cent of the purchase price for new properties and up to 30 per cent of […]
