NAB has reverted to its interest rate projection of a first decrease in May 2025. At the end of September, the big bank shifted its rate reduction call to February 2025, citing a better “balance of risks around the inflation outlook”. The main four banks have subsequently changed their view, citing a stronger-than-expected job market …
Major Bank’s Rate Change: Is Your Wallet at Risk? Read More »
Positive news for Australians, economic updates from Westpac have been circulating around. Favourable business conditions and improved consumer confidence should support the housing market. And here’s a bit more information about what this means for you. Consumer Confidence on the Rise Consumer confidence was up an impressive 11.8 percent over two months in Westpac-Melbourne Institute …
Sluggish Wage Growth and Rising Costs Recent data from the Australian Bureau of Statistics (ABS) shows wage growth slowing down, with the Wage Price Index (WPI) rising just 3.5% for the quarter ending in September. For the first time since mid-2023, WPI growth has dropped below 4%, and average hourly wage increases have slipped to …
While the Reserve Bank of Australia (RBA) has kept the official cash rate at 4.35% fixed mortgage rates are slowly shifting across various providers. The times are changing, but these changes may influence the next steps that borrowers take by adding or subtracting from their present rate. Take a look at what has been occurring …
Mixed Moves in Fixed Mortgage Rates as RBA Holds Steady Read More »
In a year marked by economic hurdles, recent mortgage data offers a hint of optimism. The latest Equifax Quarterly Consumer Credit Insights report for September 2024 shows a 2.9% increase in mortgage demand in Australia over the same quarter last year, marking the first upswing since 2021. This uptick, small yet significant, hints at improving …
Mortgage Applications Show Signs of Rising Confidence Amid Economic Shifts Read More »
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