AMP Bank acquires Nano’s home loan books as fintech exits the mortgage market
Digital lender Nano will be offloading its home loan books to AMP Bank, following its transition away from lending and towards financial services.
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Housing prices fall but Aussie buyers are slow to jump in
With property prices falling at a rapid pace, there could be an opportunity for buyers to enter the market – but whether or not Aussies are seizing that opportunity remains to be seen.
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Aussie suburbs where there’s a first homebuyer boom
New data from National Australia Bank reveals the Australian suburbs booming in popularity amongst first-home buyers.
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CBA issues warning for a per capita recession ahead of further RBA rate hikes
In an economics report released today, Commonwealth Bank announced its forecast for a recession in 2023 as Reserve Bank rate hikes finally catch up with consumer spending.
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Aussie property prices fall at fastest pace on record
The Reserve Bank’s war on inflation has caused the property market to plummet at the fastest pace on record over the last year, with Australian home values shedding -8.40% since their May 2022 peak.
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Fixed rate home loan about to end? What to do now that interest rates have gone up
Aussies who fixed their mortgages back in 2020 have benefited from low interest rates for almost three years. But with many fixed terms set to expire soon, borrowers will have to adjust to a massive jump in monthly repayments.
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Over a million Aussie homeowners at risk of facing mortgage stress, finds Roy Morgan
New research from Roy Morgan reveals that if the Reserve Bank of Australia hikes rates again in December, it could put a quarter (25.1%) of home loan borrowers at risk of mortgage stress.
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RBA governor apologises for misleading borrowers on interest rates
Reserve Bank governor Philip Lowe has apologised to the thousands of Australians who believed him when he said interest rates wouldn’t rise until 2024 and took out home loans they are currently struggling to repay.
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Will the RBA hike the cash rate in December 2022? CBA, ANZ, NAB, and Westpac home loan predictions
2022 has been the year of inflation. From May to November, the Reserve Bank of Australia delivered 275 basis points worth of rate hikes, the consequences of which have been deeply felt by home loan borrowers, especially those with the Big Four banks.
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Australians spend more time researching phone plans than home loans
Buying a house is one of the largest financial commitments most Australians will make, yet new research reveals that we do more due diligence when choosing a mobile phone plan than a home loan.
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