Reserve Bank governor Philip Lowe has apologised to the thousands of Australians who believed him when he said interest rates wouldn’t rise until 2024 and took out home loans they are currently struggling to repay.
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2022 has been the year of inflation. From May to November, the Reserve Bank of Australia delivered 275 basis points worth of rate hikes, the consequences of which have been deeply felt by home loan borrowers, especially those with the Big Four banks.
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Buying a house is one of the largest financial commitments most Australians will make, yet new research reveals that we do more due diligence when choosing a mobile phone plan than a home loan.
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More Aussies are looking for greener alternatives in home ownership in 2022, and now more lenders are offering competitive home loans with a focus on the environment.
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Starting early next year, New South Wales first-time home buyers will have the option to pay an annual land tax instead of the one-off stamp duty.
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Higher borrowing costs have taken a large bite out of property prices in recent months, and with more rate hikes to come we likely haven’t seen the bottom of this current downturn.
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A proposed merger between Newcastle Permanent and Greater Bank received the green light from members this week, laying the groundwork for the creation of Australia’s largest customer-owned bank.
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Australian property has been swept with a cascade of market falls, dragging prices down in 80% of the country. But a new housing report from QBE highlights a surprisingly simple way to add up to 10% to the value of your home: energy-efficient features.
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The Reserve Bank of Australia (RBA) has delivered an aggressive series of hikes to the cash rate for the last six months, bringing up the average variable rate home loan by more than 2% p.a. Now, official interest rates sit at 2.60%, which the RBA considers ‘neutral’ territory.
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A new report from the Australian Bureau of Statistics (ABS) confirms the Boomers have had it easier, aptly named 'Back in my day' .
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