Business
RBA ‘green-lights’ risk-taking in property investment – The Australian Financial Review
Locking in record-low rates for ‘at least’ three years has triggered a home loan war and could start a property bubble, but the Reserve Bank is not too worried.
The respective founders of Aussie Home Loans and Yellow Brick Road, John Symond and Mark Bouris, say the home loan war is firing up and house prices are set to rise as much as 7 per cent from here on.
“Competition is now as red hot as I have ever seen it in Australia,” Mr Symond said. “Banks are giving cash back to new borrowers covering origination costs, which usually takes them two years to recover.
It could create a borrowing problem in the future. But I think the RBA’s position makes sens…
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