The brand new Australian Prudential Control Authority (APRA) has actually today improved minimal rate of interest buffer they wants finance companies to use whenever examining the newest serviceability of financial programs.
Into the a letter so you’re able to authorised deposit-taking associations (ADIs), APRA possess informed loan providers it anticipates they evaluate this new borrowers’ ability to meet its loan payments in the mortgage one is at least step three.0 payment circumstances over the mortgage tool speed. (more…)