Broker Notes

RBA warns inflation is materially worse ahead of the November rate decision as house prices fall in every capital.

Unemployment rose to 4.7% as RBA minutes flagged a worsening trade-off between inflation and jobs and mortgage demand fell 19.2%.

Higher variable rates took effect at the big four as consumer sentiment fell to 80.4 and clearance rates slipped below 50%.

The RBA lifted the cash rate to 4.60% and the big four will pass it on from 9 October as inflation rose to 4.0%.

Ten lenders lifted 266 fixed rates ahead of the RBA decision as unemployment rose to 4.6% and mortgage demand fell again.

Fixed home loan rates climb as RBA Governor Michele Bullock signals the cash rate may not yet be high enough.

All four major banks now expect another RBA rate rise as consumer sentiment falls and investors sell at a record pace.

Home values fell 0.9% in August as affordability hit a record low and mortgage lending growth slowed to a three-year low.

July inflation eased to 3.5% but core prices held at 3.6%, and three major banks now forecast another rate rise.