Home Loans Mortgage News

Sign of the times: CBA increases serviceability floor as property prices climb

Australia’s largest bank, CBA, is increasing its serviceability floor rate from 5.10 per cent to 5.25 per cent.

Aussies skipping holidays and spending at home in 2021

Australians are skipping holidays this year due to a lack of funds, with RateCity survey respondents redirecting any travel money into the family home instead.

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Some of the best home loans in June 2021

The era of record-low fixed rates may be ending, with leading banks starting to increase the rates fixed home loans – first for 4 and 5-year fixed rates, and now for 2 and 3-year fixed rates. However, there are still mortgage deals available to Australians wanting to lock in a low rate, as well as other rewarding options.

ANZ hikes 4- and 5-year fixed home loans but cuts 2-year rates

ANZ has today hiked its 4- and 5- year rates by up to 0.45 per cent for owner-occupiers paying principal and interest. However, the big four bank has also shaved its 2-year fixed rate by 0.10 per cent.

Rising property prices pushing more Australians to take on risky levels of debt

New figures from APRA show value of new home loans with a debt-to-income ratio of six and over climbed to $23.77 billion in March, an increase from 16 per cent to 19 per cent year-on-year as a proportion of new lending.

Home loan cashback deals for June 2021

We may be nearing the end of rock-bottom interest rates as more lenders have started lifting fixed rates in recent weeks. This means that borrowers hoping to nab a competitive home loan offer may need to look to other benefits, such as cashback deals.

Westpac group hikes 2-and 3-year fixed home loan rates

Australia’s second largest bank, Westpac, and its subsidiaries St George, Bank of Melbourne and BankSA, have hiked their 2- and 3-year fixed rates for owner-occupiers paying principal and interest by 0.10 per cent.

Lower rates and fintech: how online lenders have transformed the home loan market in the last decade

RateCity sat down with Marie Mortimer, Managing Director of loans.com.au, one of Australia's first and largest online lenders, to discuss how the home loan market and online lenders have changed in honour of its 10 years in business.

First home buyers down as home lending hits record high of $31 billion

Home lending has hit a record high for the sixth month in a row according to new ABS data. Owner-occupiers led the charge, with the value of loans increasing by $9.48 billion compared to the same time last year. However, the value of first-home buyer owner-occupier loans has dropped for the third month in a row.

UBank cuts fixed rates for end of financial year home loan sale

Just in time for the end of the financial year, UBank has slashed fixed interest rates on selected home loan deals by up to 24 basis points, for borrowers who apply before 30 June 2021.

One in three homeowners fixed mortgage rates in past year

Over one in three homeowners opted to fix their mortgage rates in the past 12 months , according to research from RateCity’s consumer survey. However, Aussies still considering fixing their mortgage may have already missed the boat.

Going, going gone: The last 4-year fixed rate under 2% disappears

Today the last four-year fixed home loan rate under 2 per cent has been hiked, marking an end to ultra-low longer-term fixed rates in Australia. At the start of the year there were 32 four-year fixed rates under 2 per cent, including from three of the big four banks.