Market Wrap - 07 October 2021

Market Wrap - 07 October 2021
  • At it's October meeting the Reserve Bank of Australia (RBA) once again held the cash rate steady at 10 basis points, or 0.1%. Governor Philip Lowe maintained his position that RBA policy would work to return Australia to full employment with consistent inflation. Read more. 
  • New Zealand's central bank hiked interest rates on Wednesday for the first time in seven years and signalled further tightening to come, as it looks to get on top of inflationary pressures and cool a red-hot housing market. Learn more now. 
  • On the same day New Zealand lifted interest rates, the Australian Prudential Regulatory Authority (APRA) announced tougher lending criteria for Aussie mortgage applicants. In a letter to banks on Wednesday, the APRA has increased the minimum interest rate buffer on home loan applications from 2.5 to 3 percentage points. Discover more. 
  • Acknowledging the fact underquoting is rampant in the property market is hardly a controversial point. Underquoting is a tactic where agents understate the expected sale price in order to attract buyers to the listing. Read more about underquoting to assist you with your property purchase.