Australian’s looking to purchase a home or refinance existing loans will now have their home loan borrowing capacity increased due to changes from the Australian banking regulator, APRA.
Home loan borrowing capacity increased with new lending rules.
Cash rate cut again – which lenders will reduce interest rates in July
For the second month in a row the Reserve Bank of Australia have reduced the cash rate to a new record low of 1%. That’s a 0.25% drop from last month. Australia now has the sixth lowest interest rate worldwide.