Australia’s banks have begun raising interest rates on home loan and savings after the RBA’s latest rate increase. The Reserve Bank of Australia’s (RBA) November monetary policy meeting resulted in the official cash rate being increased to its highest level in 12 years, to 4.35 per cent, and lenders have wasted no time passing the increase […]
Despite a tough economic climate, 60 per cent of home buyers say now is a good time to purchase, according to Helia. Mortgage brokers have a key role in helping prospective purchasers through the daunting home buying process, according to lenders mortgage insurance (LMI) provider Helia. According to Helia’s latest Home Buyer Sentiment Report released yesterday (2 […]
A report by the customer-owned bank has found that the majority of people agree that home ownership is important to their happiness. According to the research report No Place Like Home commissioned by Great Southern Bank, home owners were significantly happier with their current housing situation when compared to renters. The report found that 70 per cent […]
New data has revealed the ongoing climb in mortgage arrears among a backdrop of high interest rates and inflation. According to the latest data for residential mortgage-backed securities (RMBS) released by Moody’s Investor Services, the share of prime quality home loans that were at least 30 days in arrears (30-plus day delinquency rate) rose to […]
Households are spending more money on housing and arrears are rising, but the majority are able to service their debts, the RBA has said. The Reserve Bank of Australia (RBA) has released its half-yearly Stability Review, revealing new figures on mortgage pressures. Payments on variable rate loans had increased by between 30 per cent and […]
With home prices reaching record highs in September, PropTrack has revealed the regions that have seen the largest amount of growth. PropTrack’s latest Home Price Index for September 2023 has revealed the top regions in Australia that are leading in price growth, with Sydney dominating the top five regions of that list. The Index found […]
A property researcher has predicted an increase in investor and first-time home buyer purchases early next year, highlighting an opportunity for brokers. According to the latest research by InvestorKit, while investor activity has experienced a slowdown, 2024 is expected to usher in renewed demand as interest rates gradually ease. The report highlighted rental growth is projected […]
The Federal Court has ordered the major bank to pay a hefty penalty for unconscionable conduct. National Australia Bank (NAB) has been slammed with a $2.1 million penalty for continuing to charge periodic payment fees despite the major bank knowing it was wrongfully overcharging customers in what the Federal Court has deemed as unconscionable conduct. […]
The central bank continues to wait for the effects of its monetary policy tightening to be fully realised through the economy. On the heels of its third consecutive hold in the cash rate, leaving it at 4.1 per cent, the Reserve Bank of Australia (RBA) confirmed in the September minutes that it is still waiting […]
The prevalence of digital valuations – including both desktop and automated models – has increased to record levels since the pandemic, according to new data. Property data and services provider CoreLogic has revealed that Australia’s valuation and mortgage industry has undergone a digital transformation in the last four years, as more users turn to digital […]