RBA Raises Cash Rate To 2.60%
The Reserve Bank of Australia increased the cash rate by 25 basis points, taking it to 2.60%. 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 a variable interest rate, it […]
Cash Rate Decision September 2022: RBA Raises Cash Rate To 2.35%
The Reserve Bank of Australia (RBA) increased the cash rate by half a percentage point today, taking it to 2.35%. 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 they lend to customers. So if you have a variable […]
Australian House Prices Experience Biggest Monthly Fall Since 1983
CoreLogic’s Home Value Index recorded a fourth straight monthly decline in August 2022, falling 1.6%. This is the largest month-on-month decline since 1983. Every capital city except for Darwin experienced a housing downturn. Sydney led the downswing, its values fell 2.3%, but Brisbane’s downturn accelerated rapidly. “It was only two months ago that the Brisbane […]
How First Home Buyers Can Benefit In A Falling Market
Signs The Property Market Is Falling Australia’s property market experienced its third straight monthly decline in home prices in July 2022, amidst a rising interest rate environment. CoreLogic data shows: Dwelling values were 8% higher over the past 12 months, down from a cyclical peak of 22.4% in the 12 months to January 2022. National […]
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 […]
