ANZ and Westpac have joined CBA in announcing changes across their fixed rate home loans last week, with hikes nearly across the board for both investment and owner occupier products. These announcements now mean three out of the Big Four Australian banks have joined the April rate-hike scramble.
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With rising home loan interest rates and costs of living on everyone’s mind, there may be relief on the horizon. This month, the Victorian government announced plans for an Affordable Housing Rental Scheme aimed at closing the housing gap and alleviating rental stress.
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Property analysts at CoreLogic have noted a quarterly decline in dwelling values across 24% of suburbs in capital cities, most of them in Sydney and Melbourne.
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For the second time in three weeks, Commonwealth Bank hiked fixed rates across home loans, lifting 2-year interest rates (OO, P&I) as much as 50 bp. This move follows the continued April trend of rate-hike fever, which has affected all four big banks.
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Remember when the Sydney Harbour went brown after flooding? Aesthetics may be only a hint of the impending disaster.
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In positive news for home borrowers, some of Australia’s top mortgage lenders are slashing home loan rates to new lows in a bid to entice home buyers and growing numbers of bargain-hunting refinancers keen to secure a better deal on their mortgage as protection against future Reserve Bank rate rises.
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If you’ve spent some time researching home loans lately, you’ll no doubt be aware that it can be a time-consuming and sometimes downright confusing task. With over 500 home loans from 80 plus lenders in the Mozo comparison database, you’d need more than a coffee break to research them all.
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The Commonwealth Bank (CBA) is the latest in the lending pack to make changes on its home loan interest rates, lifting fixed rates by as much as 30bp while lowering variable interest by 10bp.
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Dude, 1991 was wild. NASA launched the Hubble space telescope, printed jumpers were king, and houses near Bronte Beach in Sydney only cost $307,729. Them’s were simpler times.
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Sometimes you’ve got everything in place: a pre-approved home loan, an agent, and a dream. But given Australia’s ridiculously competitive property prices, it’s easy to feel like young first home buyers have limited opportunities.
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