Mortgage News

Article Courtesy of SMH Business. Article Written By Chris Zappone, July 14.

Despite the strength in the jobs market in recent months, other weaker aspects of the economy, such as lacklustre retail sales, have painted a mixed picture of the economy’s health. Consumer spending has been hit by RBA’s six interest rate rises since October – with three of them this year alone.

Dr Evans said the rebound in consumer confidence came after steep falls in the index, suggesting the current period can’t be compared to the months before the global financial crisis or the recession in the early 1990s.

Simon Reibelt from Oasis Home Loans Northern Beaches said that even though the Property Market has been increasing in overall value over the past year, borrowing rates have fallen continuously with the RBA’s dampening rate rises sought to pull in that inflation.