The national mortgage arrears rate has reached its highest level in a decade at 1%, with households in Western Australia and the Northern Territory showing the most cause for concern.
With three rate cuts behind us, many Australians who’ve been eyeing the property market for the past few years have finally decided to take the plunge. But even among those who’ve successfully saved up a deposit, plenty more hurdles await.
Finding a dream property that also sits within your means is no easy feat, and for 1 in 2 Australian home buyers, the whole process ends up being so stressful that it strains their mental health.
Been on the fence about property prices and not sure whether or not you want to take the plunge? Well, you may be behind the eight ball, as more Aussie millennials have reported feeling positive about the current housing market and are now willing to dive in.
Following this year's three RBA rate cuts, we’ve seen plenty of lenders scrambling to reduce home loan rates, and loans.com.au is the latest to jump on the bandwagon. Today, the online lender made cuts of 0.20% across its range of fixed rate home loans, effective immediately.
Just when you thought home loan rates wouldn’t drop any further after three RBA cuts this year, Teachers Mutual Bank rises to the challenge. The mutual bank is launching a special 1-year introductory rate of 2.80% (3.29% comparison rate*) for its Classic Home Loan.
Westpac is now opening its doors to property investors with smaller deposits. In the latest move to loosen its credit policy, the big bank has increased its loan-to-value ratio (LVR) cap for interest-only investment loans from 80% to 90%.
Forget fixed rate home loans with rates above 3%, the new competitive rate you should know about starts with the number 2.
Just a few short weeks after the Reserve Bank of Australia cut the official cash rate by 0.25%, new research gathered by Mozo has revealed that a huge 70% of Aussies no longer trust the big four banks.
Interest in low rate home loans is surging in the wake of the Reserve Bank’s cash rate cuts, as Aussie borrowers hit comparison sites in search of cheaper mortgage deals. The New Daily reports that tens of thousands of Australians have taken up the Treasurer’s advice to “shop around and get the best possible deal”.