Housing affordability improves in Perth and regional WA
National regulatory changes designed to dampen investor activity in the east coast capitals has led to a windfall for homebuyers in WA
NAB lifted interest-only rates to meet APRA’s regulatory requirements
The bank’s top leaders gave an account of its loan books to the House of Representatives’ standing committee on economics
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Lower house passes First Home Super Saver Scheme
Labor and the Greens have condemned the proposal, saying it won’t solve Australia’s housing affordability crisis
Some refinancers are stuck with their current loans
These borrowers are the unintended victims of APRA’s latest macro-prudential controls
S&P: Mortgage arrears are starting to decline
Arrears have begun to decline in all states and territories, with the exception of the ACT
8% of mortgage holders have little equity in their homes
Such households are at risk if they have to sell or prices drop, according to Roy Morgan Research
Income needed for repayments has declined over the last decade
The decline was likely driven by lower interest rates and other factors, according to the Australian Bureau of Statistics
Interest-only borrowers vulnerable to ‘payment shock’
They would be devastated if the economy took a nose dive or if house prices fell, the RBA warned