For homeowners flirting with the idea of locking their interest rates in now before the next round of rate hikes, December data from Mozo's Banking Roundup suggests the Christmas break may be their last chance.
ME Bank has made a range of interest rate changes on its mortgages, though this time the news is positive for borrowers looking to secure a one year fixed rate. Owner occupiers and investors can now access ME one year fixed rates 10 basis points lower at 3.89% and 3.99% respectively.
The banks certainly have been busy over the last month, aggressively raising interest rates on fixed rate loans, in addition to some variable rate loans.
For homeowners considering the option of locking in their interest rate on a fixed rate loan, now could be the time to do so, as Mozo's banking data expert is predicting more out of cycle rate increases in the new year.
In an increasingly competitive property market where even getting a foot in the door can be a struggle, young Aussies looking to buy their first home may find an opportunity with family guarantee home loans, like Greater Bank’s new family pledge loan.
The big news over the last few weeks has been around how smaller home loan lenders have increased their fixed rate home loans, while the Reserve Bank has left the cash rate unchanged at 1.50%.
Properties in Sydney and Melbourne have nothing on Hobart, at least according to some property investment experts, who feel the city's low rental vacancy rates and economic growth make it an investor’s paradise.
Sydney recorded its lowest auction clearance rate in six-weeks over the weekend, but prices remain high, and are tipped to push even higher in 2017.
Home loan interest rates went rogue last month, when 13 lenders cut variable rates on their mortgages, despite the RBA cash rate remaining stable since August.
Property investors may be better off turning their sights to other capital cities in Australia, as the Sydney property market cools and short-term growth prospects wane, according to a new report from Momentum Wealth.