The Reserve Bank meets on Tuesday to decide whether or not to lower its cash rate target to 0.1 of a percentage point (from 0.25 percentage points). Economists say this means the cash rate is “effectively” negative right now. The “effective” cash rate is currently hovering between eight basis points and 13 basis points (0.13 …
Rates so low that you nearly profit from your home loan? We’re almost there Read More »
Most economists believe the Reserve Bank will cut interest rates to just 0.1 per cent on Tuesday. Two-thirds of the 43 experts surveyed this week by comparison site Finder said it would, and markets put the chance of another rate cut at 84 per cent. But is taking rates even lower a good idea? In …
Monetary overreach: Why another interest rate cut won’t solve our problems Read More »
Growth in housing across Australia at the macro level has broadly outpaced inflation, creating real returns for property owners across Australia. In the June 2020 Pain and Gain report, it was noted the median return for resales on property held for 30 or more years had a nominal profit of $569,000. On the median resale …
Australian house prices are on the way up, moving into neutral or positive territory for the first time since Covid-19 hit. First home buyers are driving the demand for houses, lured onto the market by low interest rates, tax cuts and changing preferences for post-lockdown living, according to the latest quarterly report from Domain. “Consumer …
Economists inferred as much from the governor’s speech on October 15, and financial markets put the chance of a Melbourne Cup Day rate cut at 84 per cent. But if the RBA board is searching for another reason to pull the interest rate trigger it will likely find one on Wednesday. In good news for …
Weak inflation: Pressure builds on RBA to cut rates one more time Read More »
“Deferrals started expiring in late Sep with most due to expire before the end of October <graph 2.10>. A 4-month extension is possible on a case-by-case basis for borrowers that are not yet able to resume repayments but have good prospects of doing so. The vast majority of loans moving out of deferrals to date …
One of Australia’s major banks has reduced its serviceability floor rate by 0.30% to now sit the lowest of the big four. Westpac’s new 5.05% rate comes in below ANZ’s 5.25%, CBA’s 5.40% and NAB’s 5.50%. The bank has also announced it is undoing a number of its temporary COVID-19 assessment measures, including reinstating the …
The Financial Stability Review showed banks’ share-to-price book ratios have recovered from March but they are still below pre-pandemic levels “reflecting a decline in the earnings outlook and a reduction in investors’ risk appetite”. According to stress test simulations in the report showed banks have sensitivity to falls in GDP, property prices and unemployment. Despite …
On Jan. 3, 2009, pseudonymous creator Satoshi Nakamoto mined the first bitcoin block. As the only miner on the bitcoin network at the time, Nakamoto didn’t need specialized equipment to launch the bitcoin blockchain. With increasing regulatory scrutiny, environmental concerns, and the impending limit of 21 million Bitcoins that can ever https://www.tokenexus.com/what-is-bitcoin/ be mined, the …
The Countdown to Bitcoin’s Halving Is On Here’s What to Know Read More »
“The federal government will allow an additional 10,000 first home buyers to obtain a loan to build or purchase a newly-built home with a deposit of as little as 5 per cent, via an extension of the First Home Loan Deposit Scheme”. “An additional 10,000 places will now be provided from 6 October 2020 to …
First Home Loan Deposit Scheme Extended, Caps Increased Read More »
