Australia’s largest bank has today cut its fixed rate home loans, making it the last of the big four banks to adjust fixed rates since the RBA cash rate cut on July 2.
Over 70 per cent of Australians still consider property ownership to be the Great Australian Dream, according to new research from Commonwealth Bank of Australia.
Australia’s renters on the east coast may need to look a bit further afield to find more affordable places to live, with a new report revealing that the cheapest rents are found in Adelaide and Perth. Property investors however, may welcome news that the highest rents can be found in Canberra and Sydney.
ABS figures out today show first home buyers have continued to gain market share while the rest of the home lending market continues to fall.
New research from CoreLogic has found that auction volumes remain lower year-on-year, with the number of homes taken to auction over the first week of July less than that of the same time last year.
APRA’s decision today to remove the 7 per cent floor on home loan serviceability assessments will help take the brakes off Australia’s home loan credit crunch.
The RBA could cut the cash rate again as early as tomorrow however it’s unlikely the big four banks will pass it on in full.
The future has arrived. And borrowing money will never be the same again.
For many lucky Australians, buying your first home can be a positive experience. But new research from St. George shows that the majority of applicants find the process emotionally draining.
Banks have been cutting mortgage rates left, right and centre – and it seems more interest rate reductions might be just around the corner.
Australia’s banks have been recently taking steps to lend money more responsibly, making it that little bit harder for some Aussies to get a home loan. However, according to the Reserve Bank of Australia (RBA), this tightening of lending standards may be partially responsible for a recent increase in the number of Australians falling into arrears on their mortgage repayments.
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