Asian Stocks Plunge as AI Chip Selloff Hits South Korea and Japan 
US Dollar Hits 18-Month High as Inflation Fuels Fed Rate Hike Bets 
Container Ship Sinks in Strait of Hormuz as Iran Attacks Escalate 
IMF Warns US Debt Crisis Needs Fiscal Action, Urges China to Boost Consumption 
Oil Prices Fall as Russia Signals Higher Diesel Exports 
US Dollar Index Falls as Fed Signals Caution, Indian Rupee Surges 
US Dollar Slips From 18-Month High Ahead of Key Inflation Data 
Oil Prices Mixed as Russia Diesel Deal and Houthi Attacks Raise Supply Concerns 
Wall Street Closes Lower as Bank Earnings and AI Concerns Weigh 
Gold Prices Mixed Ahead of US Inflation Data and Fed Rate Outlook 
Asian Currencies Steady as Dollar Nears 18-Month High Ahead of US CPI 
China Bank Lending Rebounds in September, Beats Forecasts 
China Resumes US Soybean Purchases After Trump-Xi Summit 
Trump Defends Russian Diesel Deal Amid US Sanctions Backlash 
RBA Signals More Rate Hikes as Inflation Risks Rise 
Gaza Olive Harvest Collapses as War Destroys Farmland 
Oil Prices Surge Above $106 After Deadly Saudi Airport Attack 
Add as a preferred source on Google
In its latest stimulus measure, the Morrison government will extend its first home loan deposit scheme to an extra 10,000 home buyers.
But unlike existing arrangements, where people can purchase a new or existing home, these buyers will have to build a house or buy a newly-built property.
The condition is to direct maximum help to the residential building sector.
As with the existing program, the extended program allows people to buy with a deposit of as little as 5%, much less than the usual deposit of about 20%. The government guarantees the other 15% of the deposit.
The additional guarantee will run until June 30, 2021. The program has already assisted some 20,000 buyers since the start of the year.
Treasurer Josh Frydenberg said: “Helping another 10,000 first home buyers to buy a new home … will help to support all our tradies right through the supply chain including painters, builders, plumbers and electricians.
"In addition to the government’s HomeBuilder program, these measures will support residential construction activity and jobs across the industry at a time when the economy and the sector needs it most.
"At around 5% of GDP, our residential construction industry is vital to the economy and our recovery from the coronavirus crisis.”
The first home loan deposit scheme began in January, to provide up to 10,000 guarantees for the financial year to June 30, 2020. It saw strong demand in its first six months , with 9,984 out of a maximum of 10,000 guarantees offered.
Between March and June, the scheme supported one in eight of all first home buyers.
The government has announced new caps for the scheme, given newly built homes are usually more expensive than existing homes for first home buyers:
Michelle Grattan ne travaille pas, ne conseille pas, ne possède pas de parts, ne reçoit pas de fonds d'une organisation qui pourrait tirer profit de cet article, et n'a déclaré aucune autre affiliation que son organisme de recherche.
