A higher Official Cash Rate to help curb inflation, but how will it affect our housing market?
A higher Official Cash Rate to help curb inflation, but how will it affect our housing market?
26 May 2022
While increasing the OCR by 0.5 percent to two percent doesn't come as a surprise -- the Reserve Bank's forecast of a lift to 3.25 percent by the end of the year, did.
CoreLogic chief property economist, Kelvin Davidson says it'll flow through to mortgage rates -- which will have a more negative impact on the housing market than first thought.
He says the bank initially suggested a nine percent fall in house prices, now it's saying a 12 percent fall.
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