Australia’s fourth largest bank, ANZ, has lifted interest rates on several fixed home loans by between 10 and 40 basis points, becoming the last of the big four banks to do so in recent weeks.
Last year, national rental prices saw an increase of 7.4%, making it the highest growth year since 2009. And now the average rental property in Australia is at $499 as of December 2021 compared to $465 in December 2020, says Domain's latest Quarterly Rent Report .
National Australia Bank (NAB) has become the latest major bank to increase interest rates on its fixed rate home loans, bumping up rates by between 10 and 20 basis points this morning.
Online bank ING has announced that it will be lifting interest rates on a number of its fixed and variable home loans by 10-30 basis points effective tomorrow (February 3).
New loan commitments taken on by Australian property buyers reached new heights over the course of 2021 according to figures released by the Australian Bureau of Statistics (ABS) on Tuesday.
The Australian property market’s current run has fuelled a fresh round of FOMO. So much so that for many Australians, buying a home has become a more pressing goal than tying the knot.
House prices have continued their meteoric rise in Australia, in particular around capital cities where the median house price has hit a record $1.066 million.
Fixed rate home loans surged in popularity in 2021 as Aussie borrowers raced to lock in at record low rates. While many lenders have already started pushing fixed rates up from last year’s record lows, there are still a handful of incredibly low fixed rate deals on the market right now for borrowers who are prepared to act fast.The Reserve Bank convenes its first meeting of the new year in early February, and while the official interest rate isn’t expected to rise immediately, there are growing predictions from the nation’s economists that it might rise as soon as late 2022.For borrowers who haven’t yet locked in and like the idea of doing so to provide peace of mind against future rate rises, the Mozo Editors have rounded up some of the top fixed rate home loans currently on the market under 2.00%. But be quick, as these super low deals won’t last for much longer….
We know finding the best value home loan can be a hard slog. That’s why thousands of Aussies turn to mortgage brokers to help them understand the fine print, particularly if you’re a first time buyer who needs help preparing paperwork or require advice for complicated financial circumstances (hello post-2020).
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