In a speech at the Morgan Stanley summit, Reserve Bank of Australia governor Philip Lowe explained the thought process behind this week’s unforeseeable hike to official interest rates.
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The passing of a loved one can obviously be very challenging and sometimes comes with the additional strain of handling family personal affairs. One such area of concern can be an inheritance. While it can be emotionally difficult, it’s important to know what you need to keep in mind when you’re looking at property inheritance.
We’re nearing the end of the tightening cycle – and home loan lenders know it. Last month, the Reserve Bank of Australia’s surprise decision sent shockwaves through an unprepared market. Mortgages jumped far more than the expected 25 basis points, while property prices remained surprisingly buoyant.
Sydney continues to lead what is being called a "recovery trend" in the property market, posting a 1.8% lift in home values in May, according to Corelogic’s latest data.
Last month, the Reserve Bank defied expectations with an additional 0.25% hike to the official cash rate. Lenders soon jumped at the opportunity to lift their interest offers on variable home loans – with some outrunning even the RBA with 35 - 50 basis point jumps.
Despite 3.75% worth of Reserve Bank rate rises behind us, the housing market seems to have made a remarkable recovery, showing critical signs of life such as lifting auction clearance rates and a rebound in capital values.
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Borrowers have been feeling the squeeze since RBA began its rate hike spree and many have been trying to find strategies to keep themselves afloat—and refinancing might just be one of the favourites amongst Aussies.
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Good news! If you’re a first home buyer in New South Wales, some new proposed legislation may mean you no longer have to pay stamp duty when purchasing a property, up to a certain value.
The Reserve Bank of Australia surprised the market in May with another 0.25% rate hike, but the market astonishes even more. In the last two days, many online lenders funded by Bendigo and Adelaide Bank have made sweeping changes to their variable offers for new customers, most at or over 0.30% p.a.