A just-released First Home Loan Deposit Scheme (FHLDS) report has highlighted the key trends and insights from the initiative’s first six months in operation spanning from January to June 2020.
A recent spike in funding costs is happening at the worst time for Australia’s big banks, as intense public scrutiny crimps their ability to pass on increases to customers.
In a subsequent speech the Governor strengthened his commentary around the AUD referring to it as “overvalued, and not just by a few cents”. He did not go as far as restoring the easing bias but did quote market pricing as indicating that ” if a move were to occur over the next several months … it would be down not up”. He also noted that “we still have ammunition on interest rates”. Market pricing is now pointing to a 40% probability of a rate cut by year’s end.
With over 20 years experience in Home Loan Lending and Financial Planning, You can feel confident Cairns Mortgage Brokers will get you the best deal on the market. Call us today: 07 4057 9746