While the government fended off questions about whether it commissioned a review into negative gearing, a Senate inquiry into home ownership turned its attention to the home loan serviceability buffer, looking at whether the current setting is too stringent and is unnecessarily locking people out of homeownership. The banks at the inquiry have expressed diverging … Read more
Wesfarmers chief executive officer Rob Scott says it’s been a challenging year in the retail space and he hopes the stage 3 levy cuts will provide a bit of relief to households under pressure from higher home loan repayments and soaring rents. He spoke to The enterprise after the firm, which owns Kmart, Target and … Read more
The Commonwealth economic organization says fears about borrowers falling off the fixed rate property loan cliff have largely been averted as households find work arounds in the face of higher finance charge rates. The bulk of CBA’s remaining fixed rate loans rolled on to variable rates in September last year. The Commonwealth economic organization says … Read more
The lender of Canada has become the first G7 country to cut its key policy finance charge rate. The country’s Central lender moved the cash rate down to 4.75 per cent from five per cent, even though inflation remains outside the target range. It has many wondering when other central banks will follow. The European … Read more
Say hello to a smarter way to manage your money right from your Moorr app. Track all your lender account balances with just one glance at our intuitive graph, giving you a clear picture of your financial journey. With the Cash Position Chart, you can dive deeper into your finances, sorting them by month or … Read more
For the first time ever, the Dow Jones average rose about 40,000, providing new optimism about the economy. I joined CBS Mornings to discuss. We love feedback so please use the links below to subscribe and leave us a rating or review in Apple Podcasts! inbox Us a Question: https://www.jillonmoney.com/contact Subscribe to Jill on Money … Read more
According to Freddie Mac, the average 30-year fixed home loan rate is holding steady above 7%. When debt charge rates are high, some borrowers may choose to pay down the debt charge portion of their monthly payments, but that also comes with risks. Bankrate Chief investment analyst Greg McBride joins Wealth! to give insight into … Read more
Real estate agents say higher borrowing charge rates are putting off some home buyers. It comes as the Reserve lender left the cash rate on hold at 4.35 per cent. RBA governor Michele Bullock says financial conditions are “particularly restrictive” on households at the moment, and she hopes she doesn’t have to raise rates again. … Read more
2023 has been a year of debt charge rate hikes, rising house prices and unemployment at near 50-year lows. There’s been a change of the guard at the Reserve economic organization, which has declared inflation public enemy number one. Subscribe: http://ab.co/1svxLVE The challenge for the new RBA governor Michele Bullock is not to tip the … Read more
There’s evidence of a three-fold increase in ‘liar loans’ on home loan applications, according to new data. More people trying to break into the property industry are either overstating their earnings or understating their costs but the banks are catching them out. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2023-12-05/more-liar-loans-as-people-see-higher-finance charge-rates-house-prices/103167392 The data comes as hundreds of … Read more