The Reserve Bank of Australia has announced its first cash rate decision of the new year. The rate has been kept on hold at its current record low of 0.75%, where it has sat since October 2019. Following the release of the most recent data which showed a lowered unemployment rate and an uptick in the inflation […]
All the major banks have a standard set of rules they use to decide if a loan application is acceptable, or not. A ‘non-conforming’ home loan is simply a term used for home loans designed for people that don’t fit those rules. Loans like these can also be called ‘specialist’ or ‘alternative’ loans (alt doc). […]
Whether we realise it – or care to admit it – Australians are very loyal to our big banks. In fact, more than 80 per cent of home loans in Australia are held by one of the big four or their subsidiaries. But there are other options out there in the form of non-bank lenders. […]
Banks are currently offering attractive rates to entice new customers. Is it time to change lenders? Refinancing is the process of replacing an existing mortgage with a new loan. Typically, people refinance their mortgage in order to reduce their monthly payments, lower their interest rate, or change their loan program from an adjustable rate mortgage […]
There’s been a lot of conjecture recently about whether auction clearance rates are an accurate indicator of near-term upward momentum in dwelling prices. Some market watchers are hesitant to call a trend, citing “low” auction volumes. The theory goes that as auction volumes increase, clearance rates might dip lower (as supply outstrips demand). “We think […]
The Reserve Bank of Australia has cut rates to a record low 0.75 per cent following persistent weakness in the labour market. RBA governor Philip Lowe has repeatedly flagged concerns over excess slack in Australia’s labour force, which has worsened in recent months despite employment generally ticking upwards. Growing numbers of women and older Australians […]
The Buy Now Pay Later sector is winning-over the youth demographic with the promise of instant gratification, but leading mortgage brokers are warning that with every sugar-high comes the risk of a corresponding low. ‘Buy Now Pay Later’ providers such as AfterPay and Zip Pay have experienced massive growth in popularity, with the number of […]
The Reserve Bank has taken a breather from cutting interest rates, leaving its official cash rate at the historic low of 1 per cent. Having cut rates at its June and July meetings, the market had largely anticipated the decision. However, it may just be a pause with expectations of a cut next month hovering […]
1. I need to redo my kitchen and bathroom before selling Truth: While kitchens and bathrooms can increase the value of a home, you won’t get a large return on investment if you do a major renovation just before selling. Minor renovations, on the other hand, may help you sell your home for a higher […]
The Reserve Bank has taken a breather from cutting interest rates, leaving its official cash rate at the historic low of 1 per cent. Having cut rates at its June and July meetings, the market had largely anticipated the decision. However, it may just be a pause with expectations of a cut next month hovering […]