The Commonwealth Bank has launched a new introductory variable rate home loan offer of 3.79% (comparison rate 4.18%*) available to first home buyers for the first four years of their loan. But Mozo Data Manager Peter Marshall has cautioned that first home buyers may find themselves with a higher rate sooner than they think.
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The Reserve Bank board is set to have its first meeting of 2018 next week and although there have been predictions of a rate rise this year, Mozo’s Peter Marshall has said a change in February is unlikely.
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Victorian first home buyers, your home loan may have just gotten appreciably smaller thanks to a shared equity scheme known as HomesVic.
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With the beginning of a new year comes the promise of a fresh start, especially for your finances. For most Australians their biggest current or future financial commitment will be a home loan, but how do you know that your mortgage is providing you with the best value?
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Despite the fact that property prices have cooled slightly in the final months of 2017, taking out a home loan remains a financially daunting prospect for many Australians - particularly first home buyers.
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Each new year brings with it new goals and aspirations, but when it actually comes to thinking about resolutions for 2018 where should you begin?
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Finding the right lender to suit your money needs hasn’t always been easy - in fact, some borrowers would probably rather close their eyes and pick at random!
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In 2017, Mozo revealed that the Bank of Mum and Dad is the fifth biggest lender in Australia, shelling out a massive $65.3 billion to help young adults enter the property market, without charging fees, or for the most part, interest. But it turns out homebuyers who head back to the family home might pay for it in other ways - namely, by getting stuck in awkward situations.
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Following the discovery of a 23-year glitch, Westpac will be refunding up to $11 million in home loans to around 9,400 interest-only loan customers.
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Sydney property prices have fallen by 1.4% during the September quarter, which is reportedly its largest fall since the 2015 December quarter, according to recent figures by the Australian Bureau of Statistics (ABS).
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