Mortgage News

BIS Shrapnel has release a report covered by SMH that Australia will experience another boom period towards the later end of the decade, with only interest rates to subdue to projected growth. BIS indicates it would require rates to jump another 2% at least over the next 3 or 4 years. Now that the economy is into full recovery mode climbing out of a lightweight downturn, essentially Australia experienced a shallow one and therefore with all of the bolstering the Government and wider economy braced themselves for, the rebound strength should tip the economy into one where fiscal policy needs to be implemented.

Simon Reibelt from Oasis Home Loans Northern Beaches saw the report as positive both for investors and developers looking to commit to new projects. While for home owners who were either currently facing affordability issues or to prospective home owners to report did not look as great.