Category: mortgages
-
‘Per capita recession’: Banks forecast longer downturn as extra rate of interest rises loom
Australians face a per capita recession for years, and even a quick contraction in early 2024, as RBA minutes reveal central bankers are nonetheless fearful inflation will stay stubbornly excessive. Westpac chief economist Invoice Evans stated on Tuesday {that a} population-adjusted downturn is slated for 2023 and 2024, as greater rates of interest slam the…
-
‘Mortgage stress’: New dwelling homeowners squeezed hardest as repayments skyrocket
Many new dwelling homeowners might see half their incomes consumed by mortgage repayments in coming months because the Reserve Financial institution pushes by way of rate of interest hikes to curb inflation. Figures printed by Canstar on Monday revealed somebody who purchased a house on the nationwide median worth of $818,000 in April 2022 might…