The screws are tightening for home buyers, with the Reserve Bank announcing new restrictions on the amount people can borrow. The central bank has decided to introduce a DTI of six, meaning any lending over that ratio will come with special rules for banks. But it does depend how much LVR lending the bank has also made. ExemptionsThere will be some exemptions, the Reserve Bank said. Reaction from economistsWestpac's economists were quick to react to the move by the Reserve Bank today.

Source: Stuff May 29, 2024 04:13 UTC