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Mortgage

Australia Reserve Bank governor Michele Bullock (Credit: RBA)

Aussie homeowners could get slammed with another rate hike

Australia’s real estate stocks slumped on Tuesday (July 2) as investors took backwards step on the sector after the Reserve Bank’s June meeting minutes showed the cash rate could be hiked again if “inflation expectations” change. The discussion, held on June 17 and 18, shows some storm clouds for homeowners. “Members acknowledged that if inflation…

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ASIC Chair Joe Longo (Credit: ASIC)

Australian home loan lenders are under fire

OCEANIA: Banks and lenders in Australia have been accused of not “doing enough to support customers experiencing financial hardship” in a new ASIC report. Australia’s integrated corporate, markets, financial services and consumer credit regulator (ASIC) found that “lenders ignored hardship notices, effectively abandoning customers who needed their support.” Under Australian law, if you are struggling…

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(Reserve Bank of Australia Governor Philip Lowe)

Major Australian banks pass on RBA’s December rate rise

Several Australian major banks including Westpac, NAB and ANZ have increased interest rates following a decision from the Reserve Bank (RBA) to raise the cash rate for the eighth consecutive time. “Following the Reserve Bank of Australia’s decision to increase the cash rate by 0.25%, Westpac has announced a range of interest rate changes for deposit and home…

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