As expected, the Reserve Bank of Australia (RBA) on Tuesday lifted the official cash rate (OCR) another 0.25 per cent to 3.6 per cent. It was the tenth consecutive rate hike and has taken the OCR to its highest level since 2012: The increase in the OCR has more thanContinue Reading
Since capital city housing prices peaked in May of last year, things have only got ever more challenging for the nation’s property market. In the past nine months, Australians have seen the largest and most rapid rise in mortgage servicing costs in the nation’s history. Prior to the current rateContinue Reading
Superficially, it appears Australia’s house price correction may already have ended. PropTrack’s dwelling values index recorded a 0.2 per cent rise in February, which follows January’s 0.1 per cent increase. Capital city dwelling values rose 0.3 per cent over the two months to February, whereas the combined regions increased 0.2Continue Reading
Labor powerbroker Stephen Conroy has called for Reserve Bank of Australia Governor Philip Lowe to “lose his job”, describing the interest rate hikes as “an outrage” as he defended the decision of Labor frontbenchers to urge the central bank to put the brakes on. As a new analysis reveals AustraliansContinue Reading
Hundreds of thousands of homeowners on low fixed-rate mortgages that end in the coming year could be hit with as much as $16,500 more a year in interest repayments. There are fears that, along with further interest rate rises from the Reserve Bank (RBA), it could leave a $20 billionContinue Reading
Since the RBA first began raising interest rates in May last year, it has come under a great deal of criticism for raising rates much earlier than its previous commentary had suggested. The broader narrative was that it was highly unlikely that the RBA would raise interest rates before 2024.Continue Reading
House prices have tumbled for the ninth month in a row as interest rate increases take a bite out of the property market. The cost of purchasing a home has deepened by 0.21 per cent in December, bringing values to 2.29 per cent below where they were 12 months ago,Continue Reading
Twitter CEO Elon Musk blasted a former software engineer for the company as a “jackass” during a heated spat over the mogul’s push to revamp the embattled social media app. Musk said Twitter would have to do a “total rewrite of the whole thing” if it wanted to have aContinue Reading