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3 stories in the last 60 days, newest first.
With interest rate pressures grinding on, Australian borrowers are openly debating how many more hikes households can absorb before forced sales surge. While cafes and shops remain busy, indebted mortgage holders report reaching their financial limits.
Digital lender Up Bank announced it will raise its Grow savings account rate from 5.60% to 5.85% p.a. starting 12 November for balances up to 50,000. Customers still need to make five monthly card purchases to unlock the bonus rate, while its base Flow account remains steady at 2.00%.
The Reserve Bank lifted interest rates to 4.85 per cent this week, marking an 18-year high. Deputy governor Andrew Hauser acknowledged that Australians are losing confidence in the central bank’s near-term ability to pull inflation back to target as high living costs bite.
