What used to be a shock now comes as routine. After three massive 0.50% rate hikes in a row, property prices have plummeted and home loan holders are feeling the squeeze.
As the impact of climate change becomes more difficult to ignore, a number of Australian home loan providers have responded by introducing discounted home loans for borrowers with eco-friendly homes.
Refinancing to a lower rate, making extra repayments and opening an offset account are three of the best ways to reduce your home loan faster, and with interest rates on the rise it’s little wonder so many Aussie mortgage holders are looking to switch and save right now.
Just as home loan rates are rising in the wake of the RBA's back-to-back rate hikes, popular digital bank UBank has bucked the trend and unveiled a stellar new range of home loans with seriously low rates.
While customer loyalty is often rewarded, recent trends in home loan rates suggest existing mortgage holders are being passed the buck, while lenders entice new customers with lower rates.
Last Updated: 10:00am 9 August
Ever wondered a drawdown means? In simple terms a loan drawdown is the release of funds under an agreement with a lender.
Macquarie Bank broke headlines this week for becoming one of the first Australian banks to pounce on the 0.50% p.a. August RBA rate hike – beating out any of the Big Four.
Variable interest rates have surged thanks to months of aggressive decisions from the Reserve Bank of Australia (RBA). But in a surprising twist, CommBank, Suncorp, and Macquarie have all announced cuts to their fixed interest offers this week, some by up to 1.60%.
With inflation still rip-roaring through the economy, mortgage holders paying variable interest will be nervously watching the Reserve Bank of Australia (RBA) for future rate hikes.