Borrowing landscape will continue to evolve in 2016

The Reserve Bank meeting in early December declared that the cash rate will remain at 2%. Most of the experts on the panel agreed that Australia’s improving economy will be the most likely reason to keep the cash rate as it is.

However, commentators are suggesting that 2016 will be much more difficult for both borrowers and lenders.

“It’s going to be tougher for households next year and it’s not just borrowers who can expect higher costs, but also renters. Fifty-eight per cent are predicting property prices to rise in 2016, despite 38 per cent tipping a decrease in demand for residential property in the next 12 months.”

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