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쌀나눔 이벤트

‘2000kg 쌀 나눔’

현재 락다운으로 인한 근무 제한에 따라 사무실에 한 분만 근무 중인 관계로 한꺼번에 전달드리기 어려워 매주 화요일 선착순 30명 신청을 받을 예정입니다. 가능한 많은 분들께 전달드리기 위해 한 가정에 1회 (10kg)만 신청받겠습니다. 협조 부탁드립니다.

픽업 시, 주정부 지침을 준수해 주세요. 저희 또한 주정부 지침을 준수하여 전달해 드릴 예정입니다.

픽업 장소는 33 Waterloo Rd  Macquarie Park 건물 앞 주차장입니다. 픽업은 목요일 오후 3시 30분부터 오후 4시까지입니다. 신청 접수되신분들께 개별적으로 자세한 픽업 안내 메시지로 보내드리겠습니다.

여기에서 등록하시면 됩니다. https://forms.gle/BDCpaHtc1iDsWfd27

이벤트 종료일  2021년 12월 16일 

CategoriesNews

Reserve Bank keeps cash rate on hold

The Reserve Bank has kept the official cash rate on hold as it waits to determine the impact of June and July’s consecutive cuts on the economy.

The two 25 basis point cuts to a record low of 1 per cent, which came after nearly three years without a change, were blamed on a weakening jobs market and stubbornly low inflation. While today’s hold was widely expected, economists are predicting as many as two more cuts by the end of the year, likely starting in October or November.

“The persistent downside risks to the global economy combined with subdued inflation have led a number of central banks to reduce interest rates this year and further monetary easing is widely expected,” RBA Governor Philip Lowe said in his statement.

“Long-term government bond yields have declined further and are at record lows in many countries, including Australia. Borrowing rates for both businesses and households are also at historically low levels. The Australian dollar is at its lowest level of recent times.”

CoreLogic head of research Tim Lawless said today’s decision would give the RBA time to assess the effects of earlier rate cuts on the economy and consumer spending, “however there is a strong likelihood of at least one more cut later this year”.

Mr Lawless said the housing market had been a key beneficiary of lower mortgage rates, with prices stabilising over the year before a “subtle rise” last month.

“The improvement in housing market trends can’t be attributed entirely to lower interest rates, there has also been the added stimulus of looser home loan serviceability assessments, following APRA’s decision to scrap the minimum 7 per cent interest rate floor used to assess a borrower’s ability to repay a mortgage, as well as the confidence injection post federal election and tax cuts for low income earners,” he said.

“With mortgage rates set to remain low for an extended period of time, as flagged by RBA Governor Lowe in a speech last month, and potentially move even lower later this year, we are expecting to see the housing market move into a gradual recovery, however with credit policies remaining tight and economic uncertainty still elevated, we aren’t expecting a material acceleration in housing activity or housing values.”

On Monday, former Prime Minister John Howard warned the RBA may have cut interest rates “too far” already, leaving Australia lacking ammunition in the event of another global shock.

That came as a dramatic escalation in the US-China trade war sent shockwaves through global stock markets, with $90 billion wiped off the value of the ASX in two days.

Comparison website Finder’s survey of 46 economists and experts had 96 per cent predicting no change today, but 49 per cent have tipped a final low of 0.5 per cent while 35 per cent believe the cash rate will bottom out at 0.75 per cent.

Finder insights manager Graham Cooke said most experts now believe property prices will rise this year but it was still too soon to tell whether this was merely a “dead cat bounce”. “In finance, the saying is that even a dead cat will bounce if it falls from great heights,” Mr Cooke said in a statement.

“Most economists surveyed foresee small levels of growth across the board, but a few tipped prices to tumble, especially in Sydney and Melbourne where one expert predicted a 7 per cent drop.”

Mr Cooke added that “whether you see this as a falling feline or the beginning of a true rebound, it’s clear that the full effects of the RBA’s recent cuts have yet to play out”. “However, after one of the strongest weekend clearance rates in Sydney in recent months (of) 71 per cent there is definitely a detectable pulse,” he said.

The timing of the next cut could become clearer this week when the RBA announces its revised forecasts and the Australian Bureau of Statistics releases its new lending data for June.

Wednesday’s release by the ABS, which includes data on mortgage lending, should give clarity about whether the first of the RBA’s two 0.25 percentage point cuts have had any stimulating effect on the key Sydney and Melbourne housing markets.

Mortgage lending excluding refinancing fell by 2.4 per cent in May as housing investors kept their hands in their pockets about the time of the federal election. The consensus forecast for June is for a 0.4 per cent improvement, while Westpac’s Bill Evans has tipped a 1.0 per cent improvement.

“Recent interest rate cuts should provide more of a lift as we head into the second half of the year,” Mr Evans said.

Nonetheless, he expects the RBA to next cut in October and again in February, while AMP’s Shane Oliver agrees on February but is tipping November for the first move.

On Thursday the RBA will release its Statement on Monetary Policy, which will include the bank’s updated forecasts for economic growth, inflation and unemployment.

When the bank cut the cash rate in July, RBA governor Philip Lowe said the bank would adjust again “if needed”, which was widely interpreted as the central bank adopting a short-term watching brief.

“The RBA is waiting to see the impact of its June and July rate cuts and the Federal Government’s tax cuts for low and middle income earners, and in particular it wants to see lower unemployment,” Dr Oliver said.

news.com.au / AUGUST 6, 2019

CategoriesNews

Brisbane house prices set to rise faster than Sydney, Melbourne: report

Brisbane is set for the biggest rise in house prices of any capital city over the next three years, with a 20 per cent jump likely, a new forecast predicts.

 

Sydney and Melbourne prices are set to bottom out and rise at a more modest pace, holding below their recent peaks over the same period, the BIS Oxford Economics Residential Property Prospects 2019 to 2022 report suggests.

 

Sentiment in the weakened housing market has been picking up after the May election, two successive interest rate cuts and the bank regulator’s move to allow home buyers who can get finance to borrow more money.

 

But the research warned any meaningful recovery is some time away amid a high level of new homes being built and continued scrutiny from banks before granting loans.

 

“A lot of the downturn in prices has been more conservative lending policies by the banks,” BIS Oxford Economics associate director, residential property, Angie Zigomanis told Domain.

 

“Despite lower interest rates, people won’t be able to borrow as much as they were able to three years ago.

 

“From an affordability perspective and a borrowing perspective, people can’t pay the same prices.”

 

Forecast median house price growth 2019 to 2022, Australian capital cities
% Growth 2019 to 2022 % Change – previous peak to 2022 forecast
Sydney 6 -13
Melbourne 7 -10
Brisbane 20 17
Adelaide 11 11
Perth 7 -10
Hobart 4 4
Darwin 7 -14
Canberra 10 9

Source: BIS Oxford Economics

 

The downturn hit Sydney and Melbourne the hardest, with the median house price falling 18 per cent and 15 per cent respectively from the peak, BIS estimates.

 

But Brisbane, which has escaped much of the recent boom and bust of the southern capitals, looks relatively affordable.

 

The Queensland capital’s median house price is expected to rise 20 per cent over the next three years, with unit prices to lift 14 per cent, according to BIS.

 

As the state’s economy picks up, potential buyers will be able to take advantage of lower interest rates, which combined with jobs growth will boost their capacity to pay, Mr Zigomanis said.

 

Although a wave of new apartments has been built in the city in recent years, he said the excess supply was likely past its worst point.

 

Sydney is tipped to have more modest growth of 6 per cent in house prices and only 1 per cent for units over the next three years.

 

A strong supply pipeline will put pressure on prices, while tighter credit for investor loans is set to affect demand in the investor-heavy city, the research found.

 

Melbourne house prices are forecast to rise by 7 per cent over the next three years, with units up 4 per cent.

The amount of new dwelling completions is set to fall from 2020-21 onwards while the Victorian capital’s population keeps growing.

 

“In Sydney and Melbourne it’s really going to be a demand and supply story,” Mr Zigomanis said.

 

“Completions start falling over the next couple of years … we also expect the economy to start showing a few more positive signs at that stage.”

 

In resources-affected Perth, by contrast, conditions are seen as unlikely to improve in the medium term.

 

But price growth could pick up towards the end of the three-year outlook, with houses in the WA capital set to lift by 7 per cent by June 2022 and units to increase by 8 per cent.

 

Canberra house and unit prices are tipped to forecast 10 per cent each, with the first-home buyer stamp duty exemptions to help demand.

 

Around the country, Mr Zigomanis said housing looked relatively affordable after recent price falls.

 

Mortgage repayments for a median-priced home as a percentage of income are back to 2013 levels for Sydney and Melbourne, and back to early 2000s levels for most other cities, he said.

 

But saving a deposit is still a challenge, he said, despite some assistance from first-home buyer stamp duty concessions in some states and the prospect of a federal government guarantee  for buyers with low deposits.

 

The research follows forecasts from Domain economist Trent Wiltshire, who expects Sydney prices to rise 2 per cent by the end of the year, and 3 to 5 per cent next year, with Melbourne to add 1 per cent by the end of 2019 and another 1 to 3 per cent in 2020.

 

SMH/ Jul 15, 2019

CategoriesNews

APRA’s home loan rule relaxation will allow for bigger mortgages

It will now be easier for Australia’s prospective home buyers to take out bigger mortgages.

That is because the prudential regulator has decided to relax stringent lending restrictions on banks and other financial institutions.

Effective immediately, banks no longer need to apply a “stress test” to see whether their customers can afford, at least, a 7 per cent interest rate on their residential home loan repayments.

Under the new standards, implemented by the Australian Prudential Regulation Authority (APRA) on Friday, banks will have the freedom to set their own serviceability buffers.

The only restriction is that the banks ensure borrowers can repay their loans if interest rates were at least 2.5 percentage points higher than they are currently.

With many banks now offering variable mortgage rates in the low-3s, that means many borrowers are likely to be tested at a rate below 6 per cent per annum as banks decide whether they can afford to repay their loan.

“In the prevailing environment, a serviceability floor of more than 7 per cent is higher than necessary for ADIs [Australian deposit-taking institutions to maintain sound lending standards,” APRA’s chairman Wayne Byers said.

“However, with many risk factors remaining in place, such as high household debt and subdued income growth, it is important that ADIs actively consider their portfolio mix and risk appetite in setting their own serviceability floors.

How much extra can people borrow?

The removal of the interest rate floor also comes amid falling house prices, record-low credit growth and expectations that the Reserve Bank will lower interest rates again this year.

The RBA cut Australia’s cash rate earlier this week to a record low 1 per cent. It was the second rate cut in just two months.

These record low rates mean APRA’s rule changes will allow people to borrow a lot more.

A family, earning an household income of $109,688, would be able to borrow up to $60,000 more, if their loan was assessed at 6.25 per cent instead of 7.25 per cent, according to financial comparison website RateCity.

Its analysis suggested that a single person, in the same scenario, may be able to borrow an extra $50,000.

“Many Australians may suddenly find they can get their home loan approved,” RateCity research director Sally Tindall said.

“However, with more buyers in the market, house prices could also take-off again.

“APRA has eased off the brakes slightly, but that doesn’t mean it will be a complete field day for borrowers.

“There are still a number of checks and balances in place to make sure people aren’t jumping into home loans they can’t afford to repay.”

Investment bank UBS forecast that prospective buyers might be able to borrow up to 14 per cent more due to the RBA rate cuts and APRA’s loosening of lending restrictions.

“However, these changes need to be considered in the context of ongoing tightening, in particular a new HEM [Household Expenditure Measure] methodology, the rollout of comprehensive credit reporting and open banking,” UBS banking analyst Jonathan Mott wrote in a note last month.

The HEM is a relatively low estimate of basic living expenses. It was frequently used by banks instead of actually evaluating the customers’ declared living expenses.

This approach received harsh criticism during the banking royal commission, last year.

Westpac’s approval of loans using HEM also led to accusations it breached responsible lending laws, and is the subject of a Federal Court lawsuit brought by the Australian Securities and Investments Commission (ASIC).

 ABC News 2019-07-05

CategoriesNews

Australians should expect another rate cut by the end of the year, RBA warns

The Reserve Bank has cut interest rates for the first time since August 2016.

The central bank boss has warned of further cuts by the end year, as the Treasurer admits the Australian economy faces challenges.

Reserve Bank governor Philip Lowe slashed the official cash rate on Tuesday to a fresh, historic low of 1.25 per cent but said in a speech last night it would be reduced further to help stimulate employment growth and inflation targets.

Are interest rates going to be reduced further? The answer here is that the board has not yet made a decision, but it is not unreasonable to expect a lower cash rate, he said.

Our latest set of forecasts were prepared on the assumption that the cash rate would follow the path implied by market pricing, which was for the cash rate to be around 1 per cent by the end of the year.

There are, of course, a range of other possible scenarios and much will depend on how the evidence evolves, especially on the labour market.

Despite the likelihood Australians can expect their lowest rate in history to tumble further, Dr Lowe says it isnt in reaction to a deterioration in our economic outlook.

It is possible that the current policy settings will be enough  that we just need to be patient, the RBA boss said.

But it is also possible that the current policy settings will leave us short.

Given this, the possibility of lower interest rates remains on the table.

Major lenders NAB and Commonwealth Bank announced Tuesday afternoon each would pass on the full 0.25 per cent cut to customers.

But rivals ANZ and Westpac said they would pocket some of the cut, lowering interest rates on mortgages by 0.18 and 0.20 per cent respectively.

Treasurer Josh Frydenberg immediately condemned this decision, invoking the damning findings of Kenneth Hayne in the banking royal commission.

We heard from Commissioner Hayne just months ago that the banks were putting profits before people, he told reporters shortly after the move was announced.

Actions like this dont give the Australian people any comfort that the banks have changed their behaviour.

Speaking on ABC Radio this morning, the Treasurer implored ANZ and Westpac customers to vote with their feet and shop around for a better rate.

Customers are discerning and customers look for the best deal, he said.

Mr Frydenberg spruiked employment growth to rebuke claims the need for a cut to its lowest level in history proves the economy is in a dire position.

But he did admit there are some challenges related to weak inflation and the struggling property market.

We are facing economic challenges both domestically and internationally, particularly from the trade tensions between China and the US, Mr Frydenberg told Nines Today program this morning.

Shadow treasurer Jim Chalmers said Westpac and ANZs choice to not pass on the RBArate cut in full was disgraceful as the nation grapples with a slowing economy.

We cant afford to have banks pocket some of this interest rate relief, he told ABC News this morning.

Mr Chalmers echoed Mr Frydenbergs comments in reminding customers they can express their distaste by shifting their mortgages to a rival lender.

They should certainly shop around to see whether they can get a better deal somewhere else, he said.

news.com.au / JUNE 5, 2019

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