Despite the opportunity for more long term savings, research from Mozo has revealed that Aussies are three times more likely to haggle for a lower price on white goods than they are on ongoing household expenses, such as home loans and energy deals.
Whether you feel particularly jolly at this time of year or not, one thing is clear, as a whole, Aussies are a pretty festive bunch. In fact, we’re so festive that according to a recent survey conducted by ME Bank, a significant 64% of Aussies are rushing to renovate their homes before Christmas.
Aussie first home buyers, listen up! NAB has just snatched a spot at the table as one of two big banks to offer home loans under the federal government’s First Home Loan Deposit Scheme.
It’s been two days since the Reserve Bank board made the call to lower the official cash rate from 1.00% to 0.75% - an historically low rate in Australia.
In the 24 hours since the RBA cut the cash rate, we’ve seen a flurry of activity on the home loan front as banks and lenders scramble to revise their interest rates.
CommBank has announced that it will begin accepting applications from investors looking to refinance principal and interest loans once again, effectively reversing the suspension the bank placed on these types of borrowers just three months ago.
It wasn’t that long ago that property prices were edging upwards, but the stop in commercial activity and widespread job loss caused by the coronavirus pandemic has since seen confidence in the property market take a nosedive.
In the uncertain economic environment caused by COVID-19, you may be avoiding any big financial moves like buying a house or looking for a new rental. The inability to personally inspect properties or attend auctions in most circumstances is also slowing down real estate action, even as the industry finds innovative ways to continue operating.
While property transactions have seen a considerable downturn during the Coronavirus lockdown, Australians are keeping a keen eye on the residential market, according to REA’s executive manager of economic research Cameron Kusher.
ING will be tightening its lending criteria for Aussies with high risk jobs looking to take out a home loan.