March 2023: 10 Consecutive Interest Rate Rises
Episode description
The RBA have increased interest rates for the 10th consecutive meeting. This takes the total increase to interest rates to 3.50%, a $2,000 increase in monthly repayments on a $1million mortgage.
Despite weaker economic data coming out in the month of February, interest rates continue to rise. The RBA have signalled that they expect 'further monetary tightening' in the months ahead too.
In this episode:
1. We unpack their decision,
2. The data sets that came out this month pointing to weaker Australia economy
3. APRA Prudential Paper release and what it means to high 'DTI lending'.
4. What this interest rate rise does to lending
We unpack the change in investor borrowing powers and what investors can do about it.
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