Mortgage costs are going up.
Although the Reserve Bank cut the cash rate twice during 2016, lenders have been increasing their mortgage rates. And experts are predicting more out-of-cycle increases.
But haggling can pay off, as Graeme and Kim Perry, who live just outside Wollongong in NSW, have found. Continue reading How to avoid squeeze of rising mortgage rates
Interest rates will remain at record lows for another month, with the Reserve Bank of Australia (RBA) choosing not to change the overnight cash rate of 2.5%.
The cash rate has remained at 2.5% since August 2013.
The decision will come as no surprise as the majority of property industry experts had already predicted the cash rate would stay on hold this month. Continue reading Interest rates remain on hold
With the property prices where they are today, it could be a good time to buy your first home. But getting onto the property ladder is still hard for first home buyers.
Many think that they need 20% of the purchase price as a deposit before they can get a loan and whilst this is true if you want to avoid paying mortgage insurance, there are still ways to buy your first home with little or no deposit. Continue reading Buying Your First Home With Little or No Deposit
People investing in property or upgrading the family home are expected to bolster Australia’s property market into 2010.
But plenty of economists are still warning that Australians are paying the highest ever house prices relative to income.
Even finance gurus like “Rich Dad, Poor Dad” author, Robert Kiyosaki, are saying the biggest-ever real estate bubble is about to burst. So how do people know if it’s the right time to dip their toe in and buy an investment property? Continue reading Property Investment: Is It Time to Buy?
In a widely expected move, the Reserve Bank has opted to keep interest rates on hold at 3.5 per cent today.
The decision comes as inflation remains reasonably steady and after the property market has shown tentative positive signs heading into spring. Continue reading Interest rates hold steady at 3.5 per cent
It turned out to be good advice.
Now the RBA is pointing to housing remaining subdued until lower purchase prices, higher rental yields and population growth get us building again. Continue reading
Appetite for mortgages has risen for the first time in two years, unofficial data show, offering hope that home prices may lift in the months ahead.
Mortgage inquiries rose in 1.5 per cent in the first quarter of 2012, compared to the first quarter of 2011, according to Veda’s Consumer Credit Demand Index. They ticked up 0.2 per cent from the fourth quarter of 2011 to the first quarter of 2012. Continue reading Mortgage appetite rises
The Reserve Bank has left its key interest rate unchanged for a second consecutive month as it weighs improving global conditions against a patchy economy at home.
As widely expected, the central bank left its cash rate unchanged at 4.25 per cent, a result tipped by all 19 economists in a Bloomberg survey. Continue reading Interest rates unchanged
As households prepare their budgets for festive season shopping splurges, now is an ideal time to unwrap the financial strategies that help borrowers gain greater control over their home loan situation, according to Australia’s largest independently-owned mortgage broker, Mortgage Choice. Continue reading ‘Tis the season to manage your mortgage
BANKS are offering discounts up to 1 per cent off their standard variable mortgage rates to stimulate the home loan market ahead of the crucial spring selling campaign.
With loan growth across the market having dropped back to just 6 per cent over the 12 months to June 30 from an annual average of 8 per cent over the previous two years, lenders are using a range of cheaper offerings to tempt reluctant consumers.
The push is being driven by the banks’ own lower lending costs as they recycle a huge increase in customer deposits into mortgages. Continue reading Buying a house? Get a mortgage discount.
