Economy

The full effect of mortgage arrears are yet to be realised as the full impact of interest rate rises continues to roll through.

New research has revealed the number of mortgage holders “at risk” of “mortgage stress” rose to record levels in July.

While accumulated household savings are helping cushion impact of high rates, consumer spending is set to slow as borrowers approach record-high mortgage repayments.

The employment rate in Australia decreased in July, confirming the central bank's expectations of a ‘turning point’.

New Zealand’s Reserve Bank has decided to hold its cash rate once again.

As the Reserve Bank’s decision to halt the cash rate was influenced by favourable inflation data, economists widely anticipate the bank will hold in September.

The aggregator has revealed the impact the current economic environment has had on mortgagors and prospective buyers through a recent survey.

Among the “big four” banks, ANZ is the only bank still offering a cashback deal to refinancers.

RBA governor Philip Lowe noted that while the peak of the fixed-rate cliff had surpassed, one million borrowers are yet to transition.

Economist Alan Oster has warned of an upcoming spike in third-quarter CPI, raising the prospect of additional interest rate hikes in the near future.