May is officially upon us and so is the chillier weather. But while some shoppers score a bargain at the winter knitwear sales, many Aussies instead look to add a hot home loan deal to their shopping list.
The possibility of a change in the 1.50% official cash rate remains highly unlikely ahead of Tuesday’s May Reserve Bank board meeting, with the consensus pointing towards a fourth hold for 2018.
The Australian Prudential Regulation Authority (APRA) has today announced a move to abolish temporary restrictions made on investor loan growth among Australian lenders from July 1.
Despite the fact that the Reserve Bank has left the official cash rate on hold at 1.50% for the last 19 months straight, Aussie borrowers are being whalloped with rate rises on their home loans.
Despite the RBA not making a move on rates since August 2016, Mozo research has revealed that nearly half of Aussie borrowers have been stung by an out-of-cycle rate rise on their home loan.
Online lender ME has announced it is increasing home loan interest rates across its variable mortgage range effective today, citing increased funding costs as the reason - and it’s not the first to do so.
Over the past few years conventional wisdom has said that you shouldn’t be paying more than 4.00% on your home loan, but research hot from the Mozo database has revealed it’s time for a shift in thinking.
April has arrived, and now that you’ve gotten over the Easter sugar rush and survived April Fool’s Day, it’s time to get back to reality - which for home buying hopefuls might mean the search for a red hot home loan deal.
The Reserve Bank board may be sitting down for its third meeting of 2018 on Tuesday just two days after April Fools, but there’s likely to be little in the way of surprises when it comes to a change in the official cash rate.
They say that to win in the property market, you’ll need a few tricks up your sleeve. Or do you?