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Some of the best home loans in October 2021

With the Reserve Bank of Australia (RBA) committing to keep the cash rate on hold for the next few years, and mortgage lenders continuing to slash interest rates, regulators are taking steps to limit risky borrowing and cool overheated property prices.

One in ten first home buyers received government assistance last year

New findings from the second annual First Home Loan Deposit Scheme Trends & Insights Report found one in ten first home buyers made use of the two major government schemes, with the government guaranteeing more than $1.4 billion in deposit shortfalls.

New home loan stress test – how much less Australians will be able to borrow

The maximum amount Australians can borrow from the bank to buy a property is set to drop, as APRA tightens lending rules. Banks need to check if people can repay their loan at 3% more than their current interest rate, or the ‘floor’ rate set by the bank – whichever is higher.

No move expected from the RBA, but banks keep chipping away at variable rates

Variable rates continue to fall, with 27 lenders cutting at least one variable rate in the last month.

Lockdown puts the brakes on new home lending but mortgage sizes blowout

Analysis of the latest ABS data by RateCity.com.au shows the average new loan in NSW and Victoria has risen by more than $100,000 in just a year.

How APRA caps could impact how much Australians can borrow

Consumer advocate RateCity.com.au welcomes news APRA is considering changes to address the increasing risk in Australia’s home lending market.

Records slashed as the lowest rate home loan drops to 1.59 per cent

Greater Bank has thrown down the gauntlet to its competitors, cutting its 1- and 2-year fixed mortgage rates to 1.59 per cent – a new record low.

Some of the best home loans for investors and refinancers in September 2021

If you already own a home or investment property and are considering refinancing, the banks may want your business. Lenders are reportedly shifting their focus away from fixed rates, with some big banks slashing variable rates in response to record levels of refinancing activity.

Home loan deferrals increasing, hardship support triples

If your household has been experiencing the negative economic impacts of COVID-19, you’re not alone, with an increasing number of Australians requesting hardship support on home and business loans, according to the ABA.

RBA governor won’t raise rates to cool house prices

Australia’s national cash rate will be staying on hold until at least 2024, with the governor of the Reserve Bank of Australia (RBA) recommending that other avenues be considered to address rising house prices.