An increase to the cash rate could slow demand in a housing market that’s already showing signs of cooling.
Should all things fall into place to force the Reserve Bank of Australia’s (RBA) hand to increase the official cash rate in August, prospective buyers would see their dreams of home ownership slip further out of reach, CoreLogic’s head of research Eliza Owen has said.
A further 25-bp rise in August (taking the cash rate to 4.6 per cent) would take monthly repayments on the current median dwelling value to over $4,000 per month.
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