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1.Market Observations, 8.Was Sticky

24 Jan 2017 (AFR) – Low rates are making homes ‘slightly’ more affordable, PRD Nationwide says – Mortgage stress declines thanks to lower rates

(24 January 2017, AFR, p7, by Michael Bleby)

‘Even as house prices surge, record low interest rates are making them more affordable, according to PRD Nationwide. Commercial banks have cut their rates as the Reserve Bank of Australia has lowered the benchmark cash rate to a record low 1.5 per cent and this is making it cheaper for people to meet monthly mortgage payments, the real estate agency says.’

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