New analysis reveals Australia's current mortgage burden exceeds that of the late 1980s when interest rates peaked at 17%. Despite lower rates, households dedicate a higher portion of income to debt servicing due to soaring home values and increased borrowing.
Bank of Baroda and Canara Bank have increased their MCLR rates by up to 5 bps on select tenures, effective June 12, 2026. This follows the RBI's decision to maintain the repo rate at 5.25%. HDFC Bank also recently adjusted its MCLR rates.
South Korean banks' overall lending rates fell for the first time in four months in March, with the average interest rate on new bank loans dropping 0.06 percentage point to 4.2 percent. Corporate loan rates declined while household lending rates rose, with mortgage rates reaching their highest level since November 2023 at 4.34 percent.
China's central bank kept its benchmark lending rates unchanged for the 11th consecutive month, holding the one-year LPR at 3.0% and the five-year LPR at 3.5%. The decision comes as the world's second-largest economy posted 5% Q1 growth, factory-gate prices rose for the first time in over three years, and rising Middle East tensions push up oil prices, reducing pressure for additional stimulus.
