A year on from Mozo’s analysis of the rising number of ‘mortgage prisoners’, the Australian Securities and Investments Commission (ASIC) has made guideline updates to the National Consumer Credit Protection Act 2019 about responsible lending to mortgage prisoners.
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They say when it rains it pours and that’s exactly what’s occured in the home loans industry within the last 24 hours.
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Whether it’s a flashy pair of socks or a book you’ve been dying to read, there’s no better feeling than unwrapping your dream gift on Christmas Day.
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While it isn’t one of the big four, CitiBank is still a prominent player in the Australian financial game, however, it seems that they’ve changed their tactics.
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Over a third of Australian home buyers admit to lying on their home loan applications, according to recent research, and that could spell trouble, landing borrowers in a situation where they’re unable to meet mortgage repayments.
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Australia's best home loans have been ranked for the 2019 Mozo Expert's Choice Awards, and the results are eye opening. Choosing the best value home loan over the average big bank loan could save a typical borrower more than $82,000 over the life of the loan*, but with so many options available it can be hard to know where to start.
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As the decade draws to a close, housing prices go up and interest rates go down, it seems only fitting to take a look back at how the property market has changed in the past five years. What did it look like in 2014 and where is it now?
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Right now, home loan interest rates are at an all time low, and if you were thinking about locking in a fixed rate to take advantage, you wouldn’t be the only one. But are you prepared for the sky high revert rate that could be waiting just around the corner?
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With three cuts to the RBA official cash rate so far this year, home loan interest rates have plummeted leaving many Aussies enjoying a lower rate on their current loan or jumping ship in search of a better deal.
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If you’re an investor looking to jump into or expand your portfolio in the property market, you’ll be pleased to know that home loan interest rates have plummeted since this time last year.
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