No reprieve for new borrowers, as APRA keeps mortgage buffer rate unchanged
Citing an uncertain economic world, the banking regulator has refused to budge on the mortgage serviceability buffer but new inflation data at least offered some better news for borrowers.
Borrowing and refinancing is not about to get any easier, in the wake of APRA's latest assessment of mortgage buffer rates. (Image source: Shutterstock.com)
The decision by Australia’s regulator of the Australian financial services industry to keep the mortgage serviceability buffer unchanged has elicited a mixed reception.
In keeping the current 3 per cent mortgage serviceability buffer, the Australian Prudential Regulation Authority (APRA) has concluded that this level of borrower protection has not been restrictive on new credit to the household sector.
While borrowers struggle to meet the stric…
