Mortgages Up in June

July 28, 2010

Home loan applications experienced 2.3% growth in the June quarter, signalling an underlying strength in the property market. As reported on News.com.au, although applications were up in the June quarter compared to the March quarter, they were more then 20% down on the June quarter of 2009. One of the reasons for the decline, however, [...]

Read the full article →

Possible Re-Entries to Mortgage Lending Market

July 25, 2010

In another sure sign that the Australian home loan market has recovered, one non-bank lender has confirmed its re-entry plan while there are whispers of the possible return of another lender. Macquarie Bank has announced the release of a new product aimed at financially savvy property investors. The lender’s Mortgage Solutions product offers a headline [...]

Read the full article →

Possible Rate Rises During Election

July 21, 2010

The Reserve Bank of Australia has declared that the upcoming Federal election will not deter it from increasing the cash rate if it is warranted. Underlying inflation has been trending above the RBA’s upper limit so further rises to the cost of borrowing might be on the cards. The RBA will make the decision once [...]

Read the full article →

First Home Owner Grants Rorted

July 18, 2010

It has been revealed that thousands of people in New South Wales have cheated schemes available to first home buyers. The rorts include cheating on stamp duty concessions and first home owner grants. The NSW Office of State Revenue has been using all kinds of information to track down cheats, including mobile phone records. The [...]

Read the full article →

Non-Bank Lenders Compete for Business

July 15, 2010

Several non-bank lenders have confirmed their commitment to offering borrowers alternatives to traditional lenders’ mortgage products. National Mortgage Company has announced a new mortgage called the Flexi Saver Product. It offers no application or valuation fees, a line of credit, a zero interest Visa card, and a variable rate of 6.59%. Citibank will increase the [...]

Read the full article →

RBA Holds Rates in July

July 11, 2010

As widely expected, the Reserve Bank of Australia has voted to hold the cash rate steady in July at 4.5%. The cash rate has risen six times since October 2009, including three times this year, bringing it up to a more historically even position after bottoming out at 3% during the GFC. The central bank’s [...]

Read the full article →

Exit Fees in the Firing Line

June 30, 2010

New regulation by the government is set to put mortgage exit fees in the firing line, allowing both ASIC and consumers to challenge them if they see fit. The validity and purpose of exit fees have long been debated by stakeholders in the mortgage industry as they can be used to lock people into home [...]

Read the full article →

Aussie Property Market One of the Best

June 27, 2010

The Australian property market has been named one of the best in the world thanks to its strong growth rate during the GFC. Property markets around the world were hit hard by the Global Financial Crisis, but Aussie property experienced a growth rate of nearly 20% last year, defying the odds. In a survey by [...]

Read the full article →

Lenders Cut Fixed Rates

June 19, 2010

With interest rates expected to peak in the coming months, fewer borrowers are opting for fixed rate home loans, forcing lenders to cut the margins on their products. The cash rate is currently sitting at 4.5% and most analysts expect it to increase slightly to 4.75% or 5.0%, where it will stay until the end [...]

Read the full article →

RBA to Leave Rates on Hold

June 16, 2010

The Reserve Bank of Australia is expected to leave the cash rate on hold in the near term as the effects of previous rises take hold in the property market. The RBA has been on a mission over the past year to move interest rates back to a neutral level. Rates were at an historically [...]

Read the full article →

← Previous Entries

Next Entries →