Home Loan News
The latest home loans mortgage news and tips
Tic:Toc cuts mortgage rates to encourage refinancing
Tic:Toc is the latest online lender to slash interest rates outside of the traditional RBA cash rate cycle, to encourage refinancing by offering Australia’s lowest fee-free investor variable P&I rate.
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Investors surge as first home buyers take a step back
New home loans have surged to a new record high of $30.23 billion in the month of March, according to the ABS lending indicators released today. Investors have led the charge this month, with the value of new loans increasing by $878 million month-on-month.
182 home loan rates under 2 per cent but for how long?
While the RBA remained on hold this month, lenders are starting to hike longer-term fixed rates as they factor in at least one cash rate rise in 2024.
Investor rates stay down across some of Australia’s best investor home loans in April 2021
While much of the recent property market activity has been attributed to first home buyers and other owner occupiers, investors seeking to expand their portfolios may also be looking to take advantage of lower interest rates.
Australia’s lowest four-year fixed rate gone as Westpac hikes rates
Australia’s second biggest bank, Westpac, and its subsidiaries, have today hiked their four- and five-year fixed rates. Westpac isn’t alone, with an increasing number of lenders beginning to hike four-year fixed rates across the market, including Commonwealth Bank and Bankwest.
Bank offering lender’s mortgage insurance payment as Monthly Premium
One lender is swimming against the tide and changing the way buyers pay lender's mortgage insurance. From today, Gateway Bank mortgage customers with a deposit of at least 5 per cent will be offered a choice between standard LMI payment or instead pay a Monthly Premium.
Australia's new lowest home loan rate is 1.67% fixed, how does it stack up?
Lenders are continuing to battle it out to have the lowest home loan rate in Australia, with BCU today offering 1.67 per cent fixed for 1-year. However, after just 12-months it reverts to 4.06 per cent. That’s an increase of $473 a month for the average mortgage holder.
Sign of future hikes? More banks lift 4-year fixed home loan rates
RateCity research has found that since 1 March, 16 lenders have increased 4-year fixed home loan rates. This is no doubt being influenced by comments from RBA Governor, Philip Lowe, indicating that the cash rate is unlikely to increase until inflation targets are met – potentially in 2024.
Citi withdraws consumer business: mortgages, retail banking and credit cards
Global group, Citi, has today announced it will withdraw from its consumer banking business in Australia, as well as 13 other markets. Citi’s consumer business includes mortgages, retail banking and credit cards.
Some of the best home loans in April 2021
Despite the Reserve Bank of Australia (RBA) having not lifted the national cash rate in over a decade, many mortgage lenders are aggressively competing for business from borrowers. But while many borrowers will go looking for the home loans with the lowest interest rates, it’s important to also consider which home loans offer the fees, features and other benefits that could offer greater value for your financial situation.