Discounts continue to increase!!!

Are you paying 5% or more on your owner-occupied rate??? We have lenders providing standard variable rates from 4.50%

Specialist Lending

Specialist lenders reduce assessment rates which can offer higher borrowing capacities above major lenders.

Spending continues to fuel interest rate pressure

 

No matter how painful they may be, interest rates appear likely to keep rising as long as the RBA has to wrestle with higher consumer spending and inflation.

The latest Australian Bureau of Statistics (ABS) data show household spending continued to rise in November 2022, increasing by 11.4 per cent compared to last year. As a result, the Consumer Price Index (CPI) rose from 6.9 to 7.3%.

The most significant contributors to the annual rise in November were housing, food and non-alcoholic beverages, transport, furniture, household equipment and services, and recreation and culture.

The big four banks have forecast another 25 basis points increase at the next RBA meeting on the 7th of February.

While inflation remains high, there are clear signs that the Australian economy is slowing on the back of two releases of economic data this week, as job vacancies are starting to decline.

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