News Australia

The Reserve Bank of Australia board has kept interest rates on hold, leaving the official cash rate at 4.25 percent. The shock move comes as many parts of the economy continue to struggle with the side effects of the mining boom. Data published yesterday showed retail trade contracted 0.1 percent in December, traditionally the sector’s [...]

Fixed term mortgages hit 3.5 year high in October Basic variable rates were the most popular with new home loan borrowers only 11 months ago, but today they have been far surpassed by ongoing discount rates and fixed rates, according to loan approval data from Mortgage Choice, Australia’s largest independently-owned mortgage broker. At that time, [...]

One in 10 Australian households is in housing stress and at risk of financial hardship and poverty, a new report says. Renters and first home buyers are most under pressure, with 26 per cent of renters and 15 per cent of first home buyers in housing stress, the Australians for Affordable Housing (AAH) said on [...]