Aussies love real estate, and if it means going into long-term debt to live the dream, so be it. About 60 per cent of the nation’s more than 10 million properties are under mortgage. Analytics and intelligence provider CoreLogic estimated this week the Australian bricks and mortar market is worth an astounding $8.1 trillion. Despite …
First home buyers trying to enter Australia’s red-hot property market are set to be offered some relief under a number of new initiatives announced in this year’s Federal Budget. Despite property prices rising at the fastest month-on-month rate in 33 years, Treasurer Josh Frydenberg told the parliament that “under the Coalition, home ownership will always …
Federal Budget 2021: All the major property tricks for first homebuyers explained Read More »
Historically low interest rates could be over, with banks and lenders bumping up mortgages despite the Reserve Bank signalling no rate change until at least 2024. Fourteen lenders in the past months have hiked home loan rates on four-year fixed term loans, sparking speculation ultra-low rates of less than 2 per cent could become a rare …
Fourteen lenders hike mortgage rates despite no change by the RBA Read More »
Australian lenders are beginning to increase their interest rates for four and five year fixed rates, with warnings this trend indicates broader increases across variable rates aren’t far away. The Commonwealth Bank increased its four year fixed rate by 20 basis points in March, taking it to 2.19 per cent and making it the first major …
With Australia’s property market going gangbusters, it is tempting to assume we are also increasing household debt as new borrowers gorge on cheap credit. However, the numbers don’t support that idea – well, at least not yet. It is true that new mortgage issuance was running at a record high in January, mainly …
Can we have a property boom and lower debt levels? Read More »
<RBA frozen for fourth month in succession> by Mike Wood | Mar 02, 2021 Shared by Champion Mortgage Solutions The Reserve Bank of Australia has continued the trend of record low interest rates by announcing that the cash rate will be held at 0.1%. March 2021 is the fourth month in a row where the …
The largest one-month jump in house values in 17 years and a surge in new home loans has prompted warnings the property market is at risk of overheating and could force the Reserve Bank to reassess record-low interest rates. Some economists believe the RBA, which meets on Tuesday, may have to start lifting rates as …
Surging property prices could force RBA to reassess ultra-low rates, economists warn Read More »
Australia’s AAA credit rating has today been reaffirmed by Fitch, with Australia one of only nine countries to hold a AAA credit rating from all three major credit rating agencies. In its report, Fitch notes that our economy “has weathered the pandemic well compared with peers”, pointing to Australia’s “successful virus containment” and an “effective …
National Australia Bank has slashed a slew of fixed home loan rates, as the COVID-19 economic downturn continues. The major banking group has cut between five and 55 basis points off a number of fixed mortgages, with some owner-occupier loans dipping below 2 per cent. NAB’s three-year fixed rate has been shaved by 11 basis …
After a tumultuous year, home owners are exploring new possibilities, which may challenge established ideas. “The coronavirus pandemic has changed people’s attitudes away from units towards houses, and the regional centres over inner-city areas, which is contrary to the trend of the past 20 or so years,” says AMP Capital chief economist Shane Oliver. “Working …
How first-home buyers, upsizers and borrowers can get ahead in 2021 Read More »
