A survey commissioned by the Financial Brokers Association of Australia (FBAA) revealed that three-quarters of Australians believe that a one percentage point rise in interest rates would put pressure on their financial situation. “Many Australians are clearly on the brink and are sleepwalking into disaster, living in the false hope that rates will stay this…
Australians Sleepwalking Into a Financial Disaster: Expert
November 15, 2021
admin
AustraliaAustralian Housing Lendinginterest rate hikemortgage ratesReserve Bank of AustraliaScott MorrisonWorld
0 Comment
Australian First Home Buyers to Suffer as Lending Rules Tighten: Experts
First home buyers and low-income borrowers in Australia will have a more difficult time breaking into the housing market after the Australian Prudential Regulation Authority (APRA) decreased their potential borrowing capacity. The move by APRA to increase the minimum interest rate buffer on home loans from 2.5 percent to 3 percent from the end of October was designed…
Mortgage Lending Rules Tightened to Rein in Australian Property Market
October 6, 2021
admin
APRAAsia & PacificAustraliaAustralian Housing Lendingaustralian property marketjosh frydenbergRBAWorld
0 Comment
The Australian Prudential Regulation Authority (APRA) has announced long-expected changes to home loan lending rules to cool the property market. In a letter to lenders on Wednesday, APRA said they expect lenders to increase their serviceability buffer, which banks use to assess a borrowers’ ability to repay the loan, from 2.5 percent to 3 percent….
Australian Treasurer Signals for Home Loan Crackdown Amid Rising Household Debt
Australian Treasurer Josh Frydenberg has met with regulators over the need for plans to address the ballooning levels of household debt. Last Friday, Frydenberg spoke about the current state of the housing market with the Council of Financial Regulators, chaired by the Reserve Bank of Australia (RBA) governor Philip Lowe and which members include the…
Mortgage Stress Falls to Near Record Lows for Australian Households: Roy Morgan
The number of households under ‘mortgage stress’ sharply fell to near record lows in mid-2021 despite the loss of JobKeeper, according to research by market search company Roy Morgan. The latest data, based on in-depth interviews over a rolling three-month period to May, revealed that the number of ‘at risk’ mortgage holders has fallen to…
It’s Cheaper to Buy Than to Rent for Over a Third of Australian Properties
July 16, 2021
admin
AustraliaAustralian Home Loan MarketAustralian Housing Lendingaustralian housing marketCoreLogicmortgage loanWorld
0 Comment
Buying is now cheaper than renting in over one-third of Australian properties, aided by eight months of record low-interest rates, property researcher CoreLogic found. The company’s analysis showed that it is cheaper to repay home loans than to rent for 36.3 percent of Australians properties, up from the 33.9 percent reported in Feb. 2020. CoreLogic…
Single Parents to Be Able to Buy Homes With Two Percent Deposit
May 10, 2021
admin
Asia & PacificAustraliaAustralian Home Loan MarketAustralian Housing Lendingaustralian housing markethome ownershipWorld
0 Comment
The Treasury has announced additional home loan assistant measures to help more Australians become homeowners as part of the 2021-22 budget. Single parents with dependent children will be able to purchase a home with a deposit of two percent. It will be under the Family Home Guarantee, which the government will establish to provide 10,000…
Total Value of Australian Homes Surpasses $8 Trillion
May 6, 2021
admin
AustraliaAustralian Housing Lendingaustralian housing marketInternationalmortgage loanreal estateWorld
0 Comment
The red-hot Australian housing market has broken another record as the total value of the residential real estate has reached an estimated $8.1 trillion (US$6.2 trillion) in April, property analyst CoreLogic revealed. “This puts Australian residential property at around four times the size of Australian GDP and around $1 trillion more than the combined value…
Banks Should Not Let Lending Practices Slip: RBA
April 13, 2021
admin
AustraliaAustralian Housing Lendingaustralian housing marketInternationalReserve Bank of AustraliaWorld
0 Comment
The Reserve Bank of Australia (RBA) has warned banks not to let lending standards fall as the financial sector could be shaken from any debt blow out under a housing price correction. In its biannual financial stability review (pdf), the central bank stressed the importance of the financial sector avoiding excessive risk-taking in the form…
Reserve Bank of Australia Holds Cash Rate Amid Red Hot Housing Market
April 7, 2021
admin
AustraliaAustralian Housing Lendingaustralian housing marketAustralian Prudential Regulation AuthorityInternationalphilip loweReserve Bank of AustraliaWorld
0 Comment
The Reserve Bank of Australia (RBA) has said it would continue to “carefully” monitor trends in housing borrowing after announcing it will hold the cash rate at the current record low 0.1 percent. Following the bank’s monthly meeting, RBA Governor Philip Lowe noted Australia’s economic recovery was much stronger than initially expected. However, despite the…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`