Lenders slash mortgage rates while Australians top up offset accounts
Average home loan interest rates have declined by between 33 and 45 basis points over the last quarter, according to the Reserve Bank of Australia (RBA). While this has reportedly led more Australians to refinance their mortgages and top up their offset accounts, fewer new home loans have been recorded.
Australians wipe $4.2 billion off credit card debt since COVID
Australians have wiped a staggering $4.2 billion dollars off the national credit card debt accruing interest since the COVID pandemic hit.
Government COVID-19 support payment extended, criteria relaxed
The Federal Government has expanded its JobKeeper support payment for businesses and relaxed eligibility criteria in the wake of a pandemic teetering on a second wave along Australia’s east coast.
The newest suburbs in Australia to crack the million-dollar mark
Forty-six suburbs across the country entered the million-dollar club in the year to June 2020.
Renters hit by pandemic rarely offered helpful discounts, survey finds
Less than ten per cent of renters confronted with a loss of income during COVID-19 were granted relief with an adequate discount, a report has found.
Home loan market shows signs of life as variable rates hit 1.95%
New home lending has partially recovered from its record drop last month according to ABS figures released today. It comes as home loan rates keep on tumbling, with a new lowest ongoing variable rate of 1.95 per cent now on the market.
RBA makes the case for 20-storey apartments in Sydney
Planning controls -- and not demand -- have pushed the price of apartments in Sydney up by more than half of their construction costs, Australia’s central bank has found.
Two thirds of Aussies who accessed super plan to double dip
Two thirds of Australians who have already dipped into their superannuation want to take out more this financial year.
As jobless figure creeps, more people defer mortgage repayments
Homeowners who deferred their mortgages are making less repayments than when the pandemic first struck, putting them in the position where they will likely face compounding interest charges in the thousands, according to data released by the financial regulator.
How COVID-19 is affecting the property rental market
Rental markets in Australia have taken a beating from COVID-19, with rents and yields falling in inner city areas.
Cash rate held but low rates are still up for grabs
The Reserve Bank of Australia (RBA) has today held the cash rate at a record low of 0.25 per cent for the fifth month in a row. But there are still record-low home loan rates up for grabs for borrowers willing to make the switch.
Borrowers rush to refinance as loyalty tax bites
The Reserve Bank is expected to leave the cash rate on hold at 0.25 per cent when it meets this afternoon. But a new survey from RateCity.com.au found 43 per cent of home loan borrowers are looking to refinance in light of COVID-19 and record low rates.
RBA considers cutting record low cash rate
High unemployment, tapering stimulus payments, a sagging property market and a possible second COVID-19 wave will be front of mind when the RBA meets to decide if a rate cut should take place.