ANZ has called a peak to the booming Australian housing market, declaring that prices will continue to grow through 2022 before sheer unaffordability, regulatory action, and mortgage interest rates stymie demand in 2023.
The Reserve Bank of Australia has acknowledged ultra-low interest rates have contributed to record high housing prices, but still maintains that jobs would be endangered if rates are lifted too soon.
There is little to suggest Australian wages will rise in the short-term, despite reports of industry labour shortages, the Reserve Bank of Australia (RBA) has concluded.
Australia's household debt levels could approach record levels towards the end of 2021, new analysis from CoreLogic suggests, putting renewed focus on the Reserve Bank of Australia's hands-off approach to the current cash rate and broader prudential measures.
"I've paid back almost all of my loans, but I still owe the full amount," one borrower told Insider. "It's a never-ending cycle."
The National Consumer Law Center found that many Navient borrowers who made at least one payment are not even $1 closer to being debt-free.
Runaway housing prices could pose a risk to Australia’s longterm pandemic recovery, suggests a new report from the Bank of International Settlements. The annual paper says central banks will face risks if interest rates are hiked too soon, or if cheap money flows into red-hot housing markets too long. The […]
Australia’s wage price index rose 0.6% higher over the March quarter nudging yearly growth to 1.5%. New Australian Bureau of Statistics (ABS) data, released Wednesday, shows wages continue to crawl upwards. But the Reserve Bank of Australia (RBA) is holding out for wage growth of circa 3% before it reconsiders […]
Unemployment is expected to plummet through the year and continue falling through 2023, ANZ Research states. New estimates posit Australia’s labour market is rebounding from the coronavirus crisis. That might kickstart wage growth — and inflation, one of the key factors the Reserve Bank of Australia will eye before an […]
Australia’s housing market hit $8.1 trillion in value last month, surpassing the combined values of listed shares, superannuation, and commercial real estate by $1 trillion. Market analysts CoreLogic state home prices spiked 6.8% in the three months to April 2021. But the Reserve Bank of Australia maintains other policy levers […]
Nationwide, borrowers saved $82.7 billion in interest payments from the student-loan freeze, but Upgraded Points found minimal impact on individuals.
Most interest income earned by investments is taxable on both the federal and state levels. You pay taxes on interest income at your ordinary income tax rate. You can avoid ordefer=”defer”taxes on interest earned in tax-advantaged accounts and by certain assets. Visit Business Insider’s Investing Reference library for more stories. […]
Compound interest occurs when previously earned interest is added to the principal amount invested or borrowed. It is commonly described as “interest earned on interest.” Compound interest can work to your advantage as your investments grow over time, but against you if you’re paying off debt, like credit cards. If […]
Compound interest is the process of adding interest to a principal amount and basing future interest on this new balance. Unlike compound interest, simple interest uses only the principal amount to calculate interest. While many instalment loans charge simple interest, credit cards use compound interest. Read more coverage from How […]
Earlier this year, Apple announced its own credit card, known as Apple Card. Apple Card will have no annual, late, or international fees, and what Apple describes as a low interest rate. The card will also have an easy-to-use app interface, and Apple is offering both a digital and physical […]
Certified financial planner Lauren Lyons Cole...
APRA is tightening the screws.