Interest Rates: Westpac Raises Fixed Rate Mortgages After RBA Decision

Westpac has announced major increases in interest rates on fixed-income home loans and investment properties. As of Tuesday, the big four bank raised rates on all of its fixed-rate home loans by 50 basis points for both owners and investors. Both new and existing customers have been affected by the change, with the fixed interest … Read more

Interest Rates: Westpac Raises Fixed Rate Mortgages After RBA Decision

Westpac has announced major increases in interest rates on fixed-income home loans and investment properties. As of Tuesday, the big four bank raised rates on all of its fixed-rate home loans by 50 basis points for both owners and investors. Both new and existing customers have been affected by the change, with the fixed interest … Read more

Reserve Bank: Rate hikes cut the amount Australians can borrow

Australians looking to enter the property market have reduced the size of their potential mortgages due to interest rate hikes, the Reserve Bank says. Aggressive rate hikes since May have also boosted loan repayments by 25 percent, but a sharp rise in fixed-rate loans has not affected all borrowers. Jonathan Kearns, head of domestic markets … Read more

RBA: Interest rate hikes to reduce inflation are offset by rising rents

In the more than two and a half years since the pandemic first hit Australia, many things have changed dramatically. Things have turned out very differently than you might expect at first glance. At the start of the pandemic, it was widely believed that housing demand would decline as the economic costs of Covid hit … Read more

Real Estate REA PropTrack Report Provides August Real Estate Information Ahead of Spring Sales Season

Future Australian home buyers are likely to have more properties to choose from as the market blooms earlier than the usual spring peak. The number of new listings on realestate.com.au rose 9.9 percent in August from July, according to a report prepared for the real estate website. Real estate appraiser PropTrack’s report, released on Thursday, … Read more

Why RBA continues to raise interest rates despite falling house prices

House prices in Australia are falling and experts predict a significant crash on the horizon – but that hasn’t stopped the Reserve Bank from aggressively raising interest rates in the coming months. Earlier this month, international banking giant Goldman Sachs issued a terrifying forecast for the local real estate market, warning that as fears of … Read more

ASX to dive, crypto crushed as world reacts to ‘white hot’ US inflation

In the United States, inflation is still hot. Annual consumer price inflation (CPI) slowed slightly to 8.3 percent in August, from 8.5 percent in July, the Labor Department said in a much-anticipated report that the Federal Reserve is closely monitoring. However, the CPI rose 0.1 percent on a monthly comparison in August, after holding steady … Read more

Warnings to homeowners amid fears of “mortgage time bomb”

Australian homeowners are being urged to brace for inevitable mortgage rate hikes ahead of Christmas next year, which could create a situation described as a costly “mortgage time bomb”. Despite the Reserve Bank’s efforts to ensure Australian families are ideally placed to fund their home loans, a staggering $158 billion in fixed-rate loans will mature … Read more

Inflation: RBA Governor Philip Lowe addresses interest rates, price hikes

Reserve Bank of Australia governor Philip Lowe has admitted he is “soulsearching” after misjudging the economic outlook, but says he has no intention of stopping. dr. Lowe has been criticized by both Nationals Senator Matt Canavan and Greens Senator Nick McKim over the wave of rate hikes over the past five months, both of which … Read more

RBA governor under pressure after fifth consecutive rate hike

Philip Lowe faces multiple calls to resign after breaking a big promise to Australian homeowners. On Tuesday, Governor Philip Lowe pronounced the fifth consecutive rate hike, raising the cash interest rate by another 0.5 percent to 2.35 percent. The decision has sparked fresh calls for the government to remove Philip Lowe from the role, having … Read more