Making news this week (ending 8 July)

Banks pass on full RBA rate hike 

Several lenders have announced interest rate rises on mortgage and savings rates, following the central bank’s decision to raise the cash rate by 50 bps.

APRA grants RADI to Australia’s first Islamic bank

Islamic Bank Australia has been granted a restricted banking licence from APRA.

Clearance rates at lowest level since April 2020

Both auction activity and preliminary clearance rates dropped drastically nationwide last week, continuing a downward trend.

40,000 new places open up under Home Guarantee Scheme

From Friday (1 July), 40,000 new places have become available under the federal government’s schemes to help Australians buy their own home.

Kate Aubrey is the senior content producer of Momentum Media's mortgages titles: The Adviser and Mortgage Business.

Prior to joining Momentum Media, Kate covered regional and breaking news for ABC Radio for more than three years.

She has a Master of Arts in Journalism from the University of Melbourne and a Bachelor of International Business and Business Management from Griffith University.

Email Kate at: This email address is being protected from spambots. You need JavaScript enabled to view it.