Investors are returning to the property market – but a boil-over seems a long way off. Recent figures from Corelogic shows investors as the fastest growth segment, increasingly outmuscling First Home Buyers. For the fifth month in a row First Home Buyers’ market share dropped. But owner occupiers remained the largest market segment at 52.5 per cent. But, while the …
Don’t miss out on these ultra-low rates
The era of ultra-low fixed interest rates in Australia might be coming to an end as the last bank with a sub-2 per cent long-term rate has hiked theirs above that symbolic mark. And Australians are being warned not to miss out on some of these great deals. Some of the longer-term fixed rates, often four and five years, are …
Why you could shoot yourself in the foot by choosing the cheapest mortgage.
Want to lose that home? Then get the cheapest loan. It sounds hard to believe, but you could lose out if you opt for the lowest interest rate. Recently, Origin brokers have expressed concern that some of the banks are taking about a month to even look at an application! Imagine if you were relying on one of these banks …
Expecting the government to cool house prices? Don’t hold your breath
Last month saw bumper returns in the housing market, prompting some to ask whether the government will intervene to cool things down as has recently happened in NZ But those who are expecting a clamp-down don’t understand how lending works nor how a rising property market is key to the Reserve Bank’s plans for our economy’s growth. Sydney property recently …
The huge mistake most mortgage holders don’t know
Adapted from: The huge mistake most mortgage holders don’t know. Nicole Pedersen-McKinnon| Sydney Morning Herald| 27 February 2021 As the coronavirus pandemic hit last year and budgets threatened to break, CBA sent a letter to mortgage holders saying their repayments would be automatically cut to the minimum. Sounds helpful, doesn’t it? Yes, it eases the purse-string pressure but… it also …
Refinance your loan in seven days?
One small lender reckons you can switch to them quickly – and at much lower rates thanks to new technology. Open banking promises to be a game-changer in the way we can all better manage our money. In essence, it’s a simpler and more streamlined way to share your banking data with approved lenders and financial technology companies, which could …
Investors Look at Options in Downward Market
REAL ESTATE RENEE MCKEOWNMON 30 MAR 20 Investors are looking at their options with homes pulled off the market, leases extended and auction clearance rates dropping in-line with Covid-19 economic uncertainty. Forty per cent of auctions were pulled from the market and clearance rates dropped to 51.4 per cent on the weekend according to Corelogic. Buyers and sellers were urged to …
Australian banks will defer loan repayments for small businesses affected by COVID-19 for six months.
20 March 2020. Australian Banking Association CEO Anna Bligh today announced a small business relief package from Australia’s banks. “This Assistance Package will apply to more than $100bn of existing small business loans and depending on customer take up, could put as much as $8 billion back into the pockets of small businesses as they battle through these difficult times,” …
Housemate horror: How your flatmates affect your mortgage rates
Kilian Padstow| The New Daily| 25 February 2020 https://thenewdaily.com.au/finance/your-budget/2020/02/25/housemate-credit-rating-mortgage/ Share house living is common practice among money-conscious people, but research shows picking bad housemates could cost Australians almost $180,000 in later life. The exorbitant expense arises because renters typically share the responsibility for paying bills and rent on time. This means if one person misses the due date – or …
‘Fear of missing out’ back for Sydney first-home buyers as prices rise
Kate Burke| Domain| 23 February 2020 https://www.domain.com.au/news/fear-of-missing-out-back-for-sydney-first-home-buyers-as-prices-rise-932720/ First-home buyers are pressing ahead with their dreams of home ownership, rushing to buy in inner and middle-ring suburbs as rapid price growth threatens to push them further out of reach. The number of first-home buyers jumping into the market and how much they are prepared to borrow has soared in recent months, …