Here’s how much you’ll need to afford a $750,000 home loan in Australia
Are you in the market for a property and have questions about how much money you’ll need for a $750,000 home loan?
Property investment slumps in 2023, says ASX
Despite residential property investment remaining the second most popular asset for Australians in 2023, there has been a downward trend in the number of people investing in housing, according to the latest Australian Securities Exchange (ASX) report .
Home loan repayment holidays: What are they and are there hidden costs?
A mortgage is likely the biggest financial commitment the average Australian can expect to make. But personal circumstances are prone to change, and sometimes it can get difficult to keep up with things like monthly repayments. In these situations, many lenders might allow you to take a repayment holiday. Below, we take a look at what that means.
Housing affordability at worst level in 30 years, says PropTrack
Housing affordability in Australia has hit its worst level in three decades, according to PropTrack.
September home loan snapshot: Spring property blooms, along with interest rates
The last half of winter was all quiet on the Reserve Bank front. But home loan interest rates? Astonishingly busy. But despite all the activity, from hikes to cuts, the average variable interest rate for owner-occupied home loans stayed at 6.60% p.a. in August.
Will the RBA hike the cash rate in September 2023? CBA, ANZ, NAB, and Westpac home loan predictions
The Reserve Bank of Australia (RBA) has hit a lull in the rate hiking cycle. Between May 2022 and June 2023, the central bank raised official interest rates by 4.00% – a Herculean leap to combat Herculean inflation. Each hit to the cash rate brought more home loan pain to variable-rate borrowers and tightened the expanding economy with a vice.
Time to buy a home? New property listings bode promising start to spring
Prospective homebuyers might expect a rise in new property listings, as auctions in the major capitals this week bloom ahead of spring.
Has the fixed rate mortgage cliff fallen short?
The fixed rate mortgage cliff was one of the scarier predictions made about this year. However, new data from CoreLogic reveals that our worst fears about the fixed mortgage cliff may not have happened – nor are they likely to.
Refinance home loans cut cashback as lenders rethink their offers
One of the interesting trends arising from the Reserve Bank rate hikes has been lenders pulling their cashback offers for refinancers. In May 2023, Mozo recorded 25 lenders with refinancing cashback offers in its database. Today in August, it’s just 13.
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Borrowers could be saving close to $10,000 a year on their mortgage
Recent analysis from Mozo has found that owner-occupiers and investors could save big bucks by refinancing to a lower rate loan. Based on the most recent Core Logic Home Value Index (HVI) release, Mozo’s team of data experts found how much borrowers can save per year in each of the capital cities.