Australia’s tenth largest bank ME bank has today cut its variable and fixed interest rates by up to 0.26 per cent, on the same day as competitor UBank also announced fixed rate cuts of up to 0.30 per cent. Bankwest has announced cuts to its fixed rates, effective on Friday 17 May.
You may not realise that some lenders offer special mortgage products designed to make it easier for first home buyers to access the property market.
ABS figures reveal first home buyers are showing signs of life in March, in an otherwise tumbling housing finance market.
The government is set to take over the role of guarantor by helping some first home buyers get into the market with as little as a 5 per cent deposit.
Auswide has cut interest rates on selected home loans, including fixed and variable rate options for investors and owner occupiers.
ANZ has today dropped rates across several fixed rate home loans, becoming the last of the big four banks to slash fixed rates in recent weeks.
The RBA has resisted calls to cut the official cash rate, but will be looking closely at this month’s employment data, whether wages growth remains flat and potentially the next round of inflation figures, before they pull the trigger.
The lowest variable home loan rate in Australia could drop below 3.20 per cent according to financial comparison site RateCity.
It’s impossible to think of home loans without thinking of interest rates. But there’s another surprisingly significant cost we ignore at our peril – fees.
Recent news that property prices have been falling in Australia’s capital cities may have been welcomed by first home buyers waiting for the “perfect” time to buy. But with further falls forecast for the future, how can you be sure when exactly it’s the right time to buy?
Housing affordability is one of the key issues of this election, yet it’s actually becoming easier to enter the property market in much of Australia.
You wouldn’t buy a car without first giving it a test drive, so why would you make the biggest financial decision of your life without arming yourself with as much information as possible?
Australia’s fifth largest home loan lender, ING, has today dropped rates on several fixed home loans by up to 0.19 per cent.
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