According to John McGrath, Chief Executive Officer of McGrath Estate Agents, more homeowners are reviewing their loans to make sure they’re getting the best deal.
Read MoreAs you know, interest rates are rising. 3 times in 3 months, with more almost certain to follow. As a result, home loan rates will also rise. So what should you do in response? Here are five suggestions:
Read MoreWill prices continue to rise, or will we see a market correction and potential price drop soon? It's probably the most asked property question at the moment, apart from when interest rates will rise again. One could even argue it is the million-dollar question, especially as Sydney and Melbourne's median house..
Read MoreOver the last few months, there has been much speculation over whether interest rates will rise sooner than 2024. We have covered the very topic here, and also way back in July. Despite the RBA being reasonably confident it won't lift rates until 2024, economists are tipping a rate rise sooner...
Read MoreDespite assurances from the RBA that they have no immediate plans to raise interest rates, the combination of massive increases in property prices, higher serviceability buffers, and rising bond yields has many lenders ready to increase interest rates regardless. In some cases, they already have...
Read MoreAccording to the latest CoreLogic data, despite ongoing lockdowns across Eastern Australia, property prices went up sharply in the last 12 months despite a sharp fall in the number of properties advertised for sale...
Read MoreIn early October, the Australian Prudential Regulation Authority (APRA) made its long-expected changes to home lending conditions, tightening regulations on banks and lenders in an attempt to dampen Australia's runaway housing market. The rules have changed regarding how banks will assess the serviceability of home loans (referred to as a serviceability buffer). They will now evaluate a borrower's ability....
Read MoreThe property market's hot right now, but the lockdown situation is not. It is a seller's market with listings down, but that means buyer demand is still strong, even though inspections are more complex in some places due to lockdowns. CoreLogic's research director Tim Lawless believes that the slight slowing of growth in sales is also down to affordability pressures, with house prices increasing almost 11 times...
Read MoreLockdown or not, there has been a flurry of mortgage activity over winter, with the ABS (Australian Bureau of Statistics) reporting all-time highs in some mortgage lending and especially in mortgage refinancing...
Read MoreIn the previous update, we looked at the impacts of COVID Government financial assistance on existing borrowers and homeowners. In this update we will answer some common questions about how government assistance might impact first home buyers or those getting ready to apply for a loan...
Read MoreThe Delta strain has most definitely put pressure on wallets. Greater Sydney is in its third month of lock down. All of NSW now finds themselves locked down. Victoria is currently in its sixth lockdown, and most states and territories have also been in and out of various restriction levels. The impacts on many people’s finances have been keenly felt...
Read MoreDespite the continued upward surge in property prices and many Australians believing now is not the best time to buy, NAB data released at the beginning of July showed that the appetite for home ownership was still robust. The bank also recorded strong growth in mortgages, with April being the bank's strongest month on record (for mortgages), especially among first home buyers with a fear of missing the boat
Read MoreWhen the cash rate dropped to 0.1 per cent in November 2020, the real estate market went gangbusters, with house prices experiencing enormous gains. Despite spiralling house prices, the RBA has been hesitant to increase interest rates because it could cost jobs....
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