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Bank interest rate hike signals more headaches for borrowers
The country’s biggest lender has jacked up its mortgage rates in a sure sign of more pain on the way for borrowers.
The country’s biggest lender has jacked up its mortgage rates in a sure sign of more pain on the way for borrowers.
Australian mortgage holders should be prepared for further interest rate hikes as the Reserve Bank attempts to reduce inflation, its governor says.
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Even if the United Australia Party was able to force banks to cap mortgage rates at 3 per cent, it would lead to many being denied a home loan, writes Isaac Gross.
Winding back a pandemic-forced monetary policy will gradually begin to affect mortgage payments, writes Isaac Gross.
The number of older Australians still paying off mortgages or renting well into their sixties is soaring. Besides the impact on lives and household finances, the trend has serious implications for federal budgets and housing policy, argues Rachel Ong ViforJ, Gavin Wood, Melek Cigdem-Bayram and Silvia Salazar.
The Reserve Bank believes the number of home owners behind on their mortgages could keep climbing for some time, although not to levels that might threaten Australia’s financial stability.