Home Loan News

Hot housing market to carry momentum into new year

Cheap debt, government payments and a pandemic seemingly at bay are creating ripe conditions for a surging housing market in the years to come, industry experts say.

Some of the best home loans for investors in November 2020

When the Reserve Bank of Australia (RBA) made a partial cut to the national cash rate earlier this month, banks and other mortgage lenders slashed their own interest rates, mostly for new customers. This may offer property investors opportunities to refinance onto lower interest rates, and potentially put themselves in better long-term positions. 

One in 10 struggling to make mortgage repayments

The number of people struggling to repay their mortgage has more than doubled since the early days of the pandemic, data from the nation’s statistical agency reveals.

NSW mulls replacing Stamp Duty with yearly tax, but it could cost more in the long run

New South Wales is looking to transition its property tax away from a lump sum payment the size of a car to a yearly payment, in a change to a 155 year old revenue maker.

CBA slashes savings rates on the back of the RBA cut

The Commonwealth Bank has today cut rates on its popular savings, retirement and term deposit accounts, following last week’s cash rate cut.

CBA lowers serviceability floor to accommodate lower rates

Australia’s largest bank, CBA, has announced it is reducing its serviceability floor rate from 5.40 per cent to 5.10 per cent, a move that will help some people borrow more from the bank. The change is effective Saturday 14 November.

Consumer Sentiment surges, housing confidence reaches a seven year high

The backdrop of a pandemic is unlikely to affect people spending money over the Christmas holidays -- and that could include signing the deed to a new house.

Commonwealth Bank: 1% of deferred mortgages are impaired, but the figure is expected to grow

Commonwealth Bank has offered some insight into the number of people who could no longer afford to resume their mortgage repayments, but there are fears the figure could grow as relief options expire.

31 lenders offering home loan rates under 2 per cent

A record 31 lenders are offering, or set to offer, at least one mortgage rate under 2 per cent – almost triple the number before last week’s RBA cut last week.

The Australian suburbs where mortgage repayments are cheaper than rent

Historically cheap home loan costs and a sluggish property market are leading to mortgage repayments that are more affordable than paying rent in many cases, according to Aussie Home Loans’ Buy vs Rent report.

Home loan cashback deals for November 2020

This month, there are 27 lenders offering cashback deals of up to $4,000. The majority of which are for refinancing home loans.  

Australians are building the largest homes in the world

Australians are building the largest units, townhouses and houses in the world, new research reveals, bucking a six-year trend of shrinking homes, and overtaking the United States.

Best new refinancing deals for November 2020

With the Reserve Bank of Australia cutting the cash rate to a new record low of 0.10 per cent, home loan borrowers have never had more ammunition when it comes to refinancing.