The combined May, June and July rises will lift the monthly repayments on an average $560,000 home loan by $380, according to PropTrack.PropTrack economist Angus Moore said the last time mortgage holders were hit with two 50 basis point hikes was in 1994 when the Reserve Bank of Australia decided to lift the cash rate from 6.5 per cent to 7.5 per cent, but that was in one meeting.
PropTrack senior economist Eleanor Creagh said the market was pricing in a cash rate of 3 per cent by December. “These are tough news for many homeowners, with 1 in 4 already struggling to meet their monthly mortgage payments in June,” Finder head of consumer research Graham Cooke said. LJ Hooker head of research Mathew Tiller said cost of living pressures combined with rising interest rates had impacted buyer demand for housing.own story,” Mr Tiller said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Reserve Bank lifts rate to 1.35 per centAustralians already struggling with the increased cost of living pressures have been dealt a further blow, after the Reserve Bank increased the cash rate to 1.35 per cent. Many knew this was coming! How does this bloke still have a job? That's nothing to what I was paying during the eighties 17.5.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Reserve Bank lifts cash rates 0.5pc to 1.35pcBREAKING: The Reserve Bank of Australia increased the official interest rate for a third consecutive month on Tuesday by 0.5 percentage points to 1.35 per cent, as it moves quickly to curb strengthening inflation. Australian property market 🤦♂️ Hope it’s being past on to our savings account. Have you noticed power companies haven’t lifted the ‘feed-in-tariffs’ for your solar power being feed back into the power grid!?!?!? Your power is still cheap
Source: FinancialReview - 🏆 2. / 90 Read more »
Reserve Bank lifts cash rates 0.5pc to 1.35pcThe RBA increased the official interest rate for a third consecutive month on Tuesday with a 0.5 percentage point rise to 1.35 per cent, as it moves quickly to curb strengthening inflation. no it hasn’t Albomoronic will fix it.
Source: FinancialReview - 🏆 2. / 90 Read more »
‘Big expectation’ RBA will hike interest rate by 50 basis points to 1.35 per cent
Source: SkyNewsAust - 🏆 7. / 78 Read more »