Podcasts Other The Mike Hosking Breakfast Jeremy Andrews: Key Mortgages Broker on the Reserve Bank's changes to debt-to-income ratios

Jeremy Andrews: Key Mortgages Broker on the Reserve Bank's changes to debt-to-income ratios

Published: May 28, 2024, 8:04 p.m.

The news isn't all bad for prospective first home buyers.\xa0

The Reserve Bank has confirmed major changes to mortgage rules from July, which will prevent most owner-occupiers from borrowing more than six times their pre-tax income.\xa0

It's also signalling it will keep the Official Cash Rate unchanged at 5.5% for the rest of the year.\xa0

Key Mortgages broker Jeremy Andrews told Mike Hosking that at the same time, the Reserve Bank is loosening LVR restrictions to allow for more low-deposit lending.\xa0

He says the changes could actually help many first home buyers.\xa0

LISTEN ABOVE\xa0

See omnystudio.com/listener for privacy information.