Business News & Money Matters

Home owners have a not-so-secret weapon that can allow them to invest, build wealth and improve their home without having to stump up a large cash payment.

Many Australians are still out of work, rental properties sit vacant and the Reserve Bank barely moved rates - but key economists say prices could be set to take off.

The official interest rate has hit a new low, with the Reserve Bank's latest cut welcomed as a valuable back-up to last month's budget.

The Reserve Bank of Australia has again agreed to hold the official interest rate at the historic low of 0.25 per cent at its monthly meeting – unmoved from late March.

Responsible lending rules are set to be wound back, which could allow the average buyer to borrow more, pushing up prices, one consumer expert says.

The Reserve Bank of Australia has again held the cash rate at 0.25 per cent at its September meeting on Tuesday, which is a vote of confidence in the economy.

These business owners prove not all paths to success are equal, taking a property gamble that ultimately paid off.

Two recent research reports paint very different pictures of the first-home buyer market, in a sign that the pandemic has divided the market into separate camps based on job security.

The Reserve Bank's decision on Tuesday to leave the cash rate target at 0.25 per cent will continue to dampen the effects of the coronavirus crisis on borrowers under pressure, with interest rates expected to remain at record lows for some time.

Borrowers preferred the big banks throughout May and June, but lower rates are enticing mortgage holders to refinance with smaller banks and lenders.