Rising mortgage rates could be making it harder for Australia to build the new homes it needs. New home markets in Sydney and Melbourne have become the worst hit as a result of cash rate hikes, just as those markets need to increase the supply of new dwellings to address the housing supply crunch. That’s […]
Record refinancing numbers appear to have hit a cliff, as the rate of borrowers looking to change lenders experiences a substantial fall. According to data from PropTrack, the winter months saw as many as 28,000 home owners externally refinancing to another lender, compared to the pre-pandemic average of roughly 15,000 owner-occupiers changing lenders in a […]
Borrowers often wonder how they could increase their borrowing capacity and buy multiple investment properties. Mortgage broker Eva Loisance offers her tips on how to nail it. Australian borrowers are faced with challenges on multiple fronts as current economic conditions make it increasingly difficult to secure a mortgage with lenders – especially those nearing their […]
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 […]
In the ever-evolving landscape of property investment, there is an undeniable truth that many investors are currently feeling the pain. In a recent episode of Property Investing Insights with Right Property Group, Phil Tarrant along with Steve Waters and Victor Kumar discussed why certain segments of property investors have currently found themselves in uncertain territory. “I […]
First home buyers are required to save for over a decade on average to afford a deposit on a home, new research has found. An analysis from comparison site Finder has found that younger first home buyers (FHBs) need at least 16 years to save for a deposit on the average house and 12 years […]
By the end of this year, hundreds of thousands of fixed-rate loans will have expired, with mortgagees left to decide how to proceed. And according to Zippy Financial director and principal broker, Louisa Sanghera, many will not have the option of refinancing due to shifting financial circumstances. “The rapid increase in interest rates since May […]
The majority of Australians believe that property is still a good investment despite current economic conditions, the aggregator’s survey has found. The survey, commissioned by aggregator Mortgage Choice and conducted by Honeycomb Strategy, found that 83 per cent of Australians believe that property is still a sound investment in spite of rising interest rates, lack […]
The value of refinancing once again soared to new heights amid strong competition in the mortgage market. The latest Lending Indicators data released by the Australian Bureau of Statistics (ABS) revealed that the value of external refinancing for total housing rose 5.4 per cent in July 2023 in seasonally adjusted terms. This marked yet another […]
The Reserve Bank of Australia (RBA) has revealed its September cash rate call at its monthly board meeting. In what was RBA governor Philip Lowe’s final board meeting, Australia’s central bank opted to hold the official cash rate at 4.10 per cent. The RBA decision to continue the theme of its July and August board meetings […]