Home Loan News

Some of the best owner-occupier home loans in October 2020

The first recession in 30 years has done little to dampen the spirits of home loan borrowers.

The incentives available to Australian first home buyers, state-by-state

First home buyers are out in full force despite COVID-19, and that may well be thanks to the many financial incentives available to them.

RBA governor indicates an historic rate cut could be on the cards in November

Mortgage interest rates could fall to an unprecedented low if the head of the nation’s central bank acts on his strongest suggestion yet that the cash rate will be cut.

Mortgage holidays: Almost one in two resume home loan repayments

Almost half of all Australians who deferred their mortgages have resumed repayments, indicating the country is speedily recovering from its first recession in nearly three decades. 

Unit rents fall in Melbourne and Sydney, as houses across the country recover

The nation’s largest cities experienced strong falls in rental value, a new report reveals, slowing down a recovery underway in the rest of the country.

Australians are feeling confident about spending as the economy bounces back

Big bank economists are observing a rebound in people’s willingness to spend on items big and small, after the public stockpiled their savings for months in response to the uncertainty of a pandemic.

Record rebound in home loan borrowing, but investor loans struggle to recover

The rebound from Australia’s first recession in almost 30 years appears to be underway as people spend record amounts on the homes they want to live in, according to the ABS.

First home buyers could lose out due to higher interest under government scheme

What first home buyers could save by purchasing a new property under the First Home Loan Deposit Scheme won’t be enough to offset the extra interest costs they could be facing over the life of the loan.

Westpac lowers serviceability floor to accommodate for low rates

Australia’s second largest bank, Westpac, has taken action to help some people borrow more from the bank and its subsidiaries.

Housing prices could spiral as 15 per cent struggle to resume mortgage repayments

About 15 per cent of people who deferred their mortgages are at risk of not being able to resume repayments, the RBA said, possibly leading to a sell-off of homes at a loss and a ‘housing fall’. 

New home lending surges to highest level since January 2018

New home lending made another surge in August, despite the fact Australia was staring down the barrel of a recession.

Homes could sell at a loss as time ticks for struggling borrowers with mortgage deferrals

More property owners could be facing losses when selling this year as mortgage repayment deferrals come to an end, though investors may be more susceptible to risk.

No RBA cut but home-owners can save three times more by refinancing

The Reserve Bank has left the cash rate on hold today at 0.25 per cent but has left the door open to a future cut.