The central bank has reported that arrears have ticked up from low levels since late 2022, and outlined the drivers behind this. In its July 2024 Bulletin, the Reserve Bank of Australia (RBA) said that housing loan arrears have increased steadily since 2022, alongside rising household budget pressures from higher inflation and interest rates. It […]
Refinancing your mortgage? First, it may be beneficial to consider these five suggestions to ensure the process runs smoothly, which could save time and money. The tips were broken down by Tiimely Home’s lead broker Barbara Giamalis, who explained the benefits of refinancing. “Although refinancing isn’t as robust as last year, many consumers are still […]
It’s been seven weeks since the last cash rate call, with opinions varying on whether the next move would be a hold or rise. Now, the Reserve Bank of Australia has delivered its first decision of FY25. The central bank has announced it will hold the cash rate, electing to keep the figure steady at […]
When it comes to refinancing a mortgage, smart strategy could save you thousands of dollars a month. On a recent episode of The Smart Property Investment Show, PRD Real Estate’s chief economist Dr Diaswati ‘Asti’ Mardiasmo shared her journey refinancing her own mortgage. Coming off her COVID-19 era fixed-rate mortgage in April this year, Mardiasmo received a […]
Australians hoping for a reprieve on mortgage interest rates in 2024 might be disappointed. Recent economic data suggests the Reserve Bank of Australia (RBA) could raise rates multiple times this year, despite a slight dip in inflation. To better understand the forces at play, and understand what the future for property holds, let’s break down […]
Those in the market for a home loan are encouraged to be meticulous in reviewing their applications as proper pre-approval can make all the difference down the track. Veronica Millman, credit assessor lead at Tiimely Home, has spoken about the significant information gap between what consumers believe they are receiving versus what they are actually […]
When it comes to getting your first home loan, here are the warning signs that lenders and mortgage brokers are looking out for. As a mortgage broker with over 25 years of industry experience, Barbara Giamalis has heard her fair share of myths when it comes to securing a mortgage. The Tiimely Home mortgage broker […]
When it comes to refinancing a mortgage, smart strategy could save you thousands of dollars a month. On a recent episode of The Smart Property Investment Show, PRD Real Estate’s chief economist Dr Diaswati ‘Asti’ Mardiasmo shared her journey refinancing her own mortgage. Coming off her COVID-19 era fixed-rate mortgage in April this year, Mardiasmo received a […]
Borrowers refinancing have allowed the major banks to maintain their market share dominance, the aggregator has revealed. The latest AFG Index released by the Australian Finance Group (AFG) has revealed that the market share of Australia’s big four banks rose to 61.7 per cent during the third quarter of the 2024 financial year. Meanwhile, the […]
Challenges concerning mortgage serviceability, housing affordability, and hurdles to saving a deposit could dampen first home buyer (FHB) activity this year, according to a new report. The latest ANZ CoreLogic Housing Affordability Report for the March 2024 quarter has highlighted the challenges FHBs face amid multiple economic headwinds like rising interest rates and a deterioration […]