When you’re applying for a home loan, the fate of your application can heavily rest on one simple measurement tool, determining whether you land your dream home, or feel the soul-crushing pain of being rejected for a home loan.
A new Grattan Insitute report, “Generation Gap: Ensuring a fair go for younger Australians” reveals younger generations are in danger of being the first generation to have lower living standards than their parents’ generation.
Long gone are the days of earning over 7% p.a in interest on your savings, with very few banks at present offering much more than 2% p.a. on savings accounts and term deposits. With more rate cuts possibly on the way, you may be considering alternative places to earn a return on your cash.
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