The Reserve Bank has now officially asked the Government if it can have Debt to Income (DTI) tools available to use incase of further housing market instability. Whilst it doesn’t plan to use them, it plans to keep them up it’s sleeve for possible future use.
The October 1 restrictions appear to have had some effect, mainly targeting investors and affecting offshore buyers. First home buyers have also been limited to an extent as well.
Fixed interest rates appear now to be on the rise too with may banks having increased rates in the last week. This is mainly due to steady lending demand with higher loan sizes, a lack of local deposit funds forcing banks to source funds from offshore.
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