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On hold again, as most predicted.

"Growth in China has slowed a little, with the authorities easing policy while continuing to pay close attention to the risks in the financial sector. Globally, inflation remains low, although it has increased due to both higher oil prices and some lift in wages growth. A further pick-up in inflation is expected given the tight labour markets and, in the United States, the sizeable fiscal stimulus. One ongoing uncertainty regarding the global outlook stems from the direction of international trade policy in the United States.

...In Australia, money-market interest rates have declined recently, after increasing earlier in the year. Standard variable mortgage rates are a little higher than a few months ago and the rates charged to new borrowers for housing are generally lower than for outstanding loans.

...Conditions in the Sydney and Melbourne housing markets have continued to ease and nationwide measures of rent inflation remain low. Growth in credit extended to owner-occupiers has eased but remains robust, while demand by investors has slowed noticeably as the dynamics of the housing market have changed."

Read the full release here.

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    • By Carol from Vista Financial
      What is it?
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      If you default on the loan (i.e. don’t/can’t pay), they will chase you for the funds. If that doesn’t work and as a last resort, they will re-possess and sell the house to pay the debt.
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      As a borrower, this type of insurance does not offer you any protection whatsoever.
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      This report into housing has been released recently, produced by BIS Oxford Economics for QBE Lenders’ Mortgage Insurance.
      You may read the report on their website or download the full interactive PDF report here.
      Short on time? Watch their short video instead.
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      BIS Oxford Economics is a large macroeconomics and industry forecast provider. The two companies have partnered for the last 17 years to generate these reports.
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      Are their predictions for the future accurate?
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      How long does it take after moving to Oz to secure a mortgage? Short answer: it depends.
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    • By Carol from Vista Financial
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