Housing affordability in Australia continued to worsen over the December quarter, with recent research putting the proportion of income required to meet home loan repayments at 37 per cent.
These days, Aussies have more choice than ever before when it comes to borrowing money, and as everyone searches for faster, easier ways to control their finances, digital lenders are emerging as real challengers to the big banks.
New figures released by the Australian Bureau of Statistics (ABS) show that homeowners with mortgages still seem to be making the most of relatively competitive interest rates by switching their loans in considerable numbers.
Putting your property on the market can be an exciting time. But while you might be looking forward to the title changing hands and that lump sum arriving in your bank account, it can be easy to forget all the other steps involved, not to mention the costs. Some costs are unavoidable, such as real estate agent fees, conveyancer fees, and the cost of marketing your property to potential buyers. But there are plenty of voluntary costs sellers take on in the hope they’ll be able to bump up the sales price. Generally, you can expect to pay the following:
In positive news for Australian home borrowers and refinancers this month, fierce competition amongst lenders has seen the average variable home loan rate drop to a new low of 3.05%.
Westpac has become the latest in a string of mortgage lenders to hike interest rates on a number of its fixed home loans - the third time the major bank has lifted fixed rates in 2022.
For the first time in 17 months property values in the nation’s largest and most expensive capital city, Sydney, have fallen according to new figures from CoreLogic.
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