Variable rates fluctuate as fixed rates continue to decline: RBA Chart Pack

Variable rates fluctuate as fixed rates continue to decline: RBA Chart Pack
Variable rates fluctuate as fixed rates continue to decline: RBA Chart Pack

The latest chart pack gives an insight into how the RBA came to its decision to leave the cash rate on hold at a record low 1.5 percent.

house prices continue to decline from the late 2017 peak.

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Variable rates fluctuate as fixed rates continue to decline: RBA Chart Pack

Housing loan approvals for owner-occupiers and investors continue to decline.

In 2016 there were a similar amount of approvals for investor loans and owner-occupier, but since then the gap has grown.

Investor haven't been higher the owner-occupier approvals since 2015.

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Variable rates fluctuate as fixed rates continue to decline: RBA Chart Pack

Wage price index growth has shown a steadiness over the last few months, coming after a steady decline over the last four years.

The index sits just over two percent, well down on its highs of over four percent some 10 years ago.

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Variable rates fluctuate as fixed rates continue to decline: RBA Chart Pack

Despite no official rate rises for 26 consecutive months, variable interest rates continue to fluctuate.

The average standard variable reference rate has been hovering around the 5.5 percent mark for the last four years, but saw a sharp increase half way through 2018, when three of the big four decided to hike their rates.

New loans continue to decline to four year lows.

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Variable rates fluctuate as fixed rates continue to decline: RBA Chart Pack

Fixed interest rates are slowly heading down towards the four percent mark, having been nearly eight percent 10 years ago.

It's the lowest fixed interest rates have been in three years.

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Variable rates fluctuate as fixed rates continue to decline: RBA Chart Pack

Tags: 
Rba Rate Decision Rba Insights

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