5 reasons to refinance your home loan now
With competition continuing to flare up in the Australian home loan market, homeowners looking to switch over to a better deal are in for a nice surprise.
Home loan rates at record low: Could tougher lending rules shut out first homebuyers?
While competition remains fierce in the Australian home loan market with plenty of good deals around, lenders are pulling the reins in on which borrowers can access their lowest rates.
More support on the way as banks extend mortgage holidays for struggling borrowers
Australian banks will be extending support for struggling customers, announcing today that borrowers who have paused loan repayments will be able to defer for an extra four months.
Mortgage holiday extensions help avert $75 billion home loan blowout
The decision by some banks to extend mortgage deferrals will come as a relief to struggling Australians, who were only a few months away from a financial cliff. But it may have also prevented a potentially devastating shock to the economy.
July home loans snapshot: Fresh market leaders emerge as rates hit new bottom
Just when the market appeared to be quietening, some seismic shifts at the lower end of the home loan market have changed the rate landscape once again according to the latest edition of the Mozo Banking Roundup.
Home loan revert rates: The fine print to pay attention to when remortgaging
With fixed home loan rates at record lows, if you’re not on the refinancing ball right now, you could miss out on some serious savings.
Teachers Mutual Bank home loans up for grabs under the FHLDS
Teachers Mutual Bank has announced it will be participating in the second release of the First Home Loan Deposit Scheme (FHLDS), with applications opening today.
Housing prices down 0.7% nationally, 0.8% in capital cities
The coronavirus pandemic continues to chip away at property prices, with the CoreLogic Home Value Index recording a decline of 0.7% in June - the second month in a row it's seen prices drop. Among capital cities, dwelling values fell by 0.8% over the month, led by both Melbourne (-1.1%) and Perth (-1.1%). Sydney saw the third largest decline, with prices down by 0.8%. Adelaide and Brisbane were relatively spared, recording price drops of just 0.2% and 0.4%, respectively. Meanwhile, indices for Hobart, Darwin and Canberra showed slight increases of between 0.1% and 0.3%.CoreLogic head of research Tim Lawless said the impact of the coronavirus pandemic on property prices has so far been mild, and year-on-year growth remains strong for most capital cities. “The twelve month change in home values remains in positive double digit territory across Sydney (13.3%) and Melbourne (10.2%),” he said. “The only capitals where values show declines on an annual basis are Perth and Darwin, but even across these cities, home values were early into a recovery phase pre-COVID."
Bank of Us and Homestar take fixed mortgage rates to new lows
Online lender Homestar and Tasmanian-based Bank of Us have proven that there is no floor when it comes to fixed rate loans, with both lenders dropping seriously competitive offers in the last few days.
Property price drops: In which areas can you find a better deal?
The coronavirus pandemic and ensuing restrictions have sent shockwaves throughout the economy, and while the property market has proven to be remarkably resilient so far, it hasn’t been completely spared.