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Economy
Poor economic confidence is pushing consumers to expect the worst with interest rate rise fears climbing significantly in July.
Despite a 12-year high RBA cash rate, on average, Aussie borrowers are taking out larger mortgages than ever before.
The value of new housing loans has fallen after three months of positive growth.
A recent Property Council of Australia release has claimed that due to a cocktail of influences, housing affordability across Australia will worsen.
Good news for Aussies as economists from Bendigo Bank are predicting the RBA cash rate to remain steady throughout 2024.
An increase to the cash rate could slow demand in a housing market that’s already showing signs of cooling.
The central bank has maintained its resolve that inflation would reach its target within a reasonable time frame, the minutes have revealed.
The central bank is expected to hold interest rates well into next year following a strong inflation print in May.
According to recent data, more than 1.5 million Aussies are at risk of being affected by mortgage stress. However, with stage 3 tax cuts on the horizon, these numbers are predicted to ...