Market Essentials - August 2020
/This month the Federal Government announced the extension of the JobKeeper program for a further six months, along with the JobSeeker supplement also being extended.
Combined with more targeted extensions to the ‘mortgage holiday’ on repayments, many Australians will be breathing a sigh of relief as they’re given additional time to manage their financial affairs through the pandemic.
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Loanscape has today released its Borrowing Capacity Index for Q2/2024. It shows that the borrowing capacities of Australian individuals and families have stabilised after the sharp decline over the past 2 years. Lower income borrowers continue to be disproportionately impacted by interest rate increases: the family income required to qualify for the average size loan in Australia is 35% higher than 2 years ago.