This weeks recap of the top stories in the mortgage and home loan market in Australia.

The top stories from the major press circuit for the week ending 15/07/07:

Costello launches land audit
Sydney Telegraph
Justin Vallejo, Property Reporter for the Sunday Telegraph, takes a look at the political stoush surrounding housing affordability. Federal Treasurer, Peter Costello, has called on the state Labor governments and private sector developers to work with the Commonwealth to audit all land, particularly on outer suburban areas aiming to ease housing supply issues. Labor retorts with tax concessions.

Demand for home loans grows
Brisbane Times
Government data released on Tuesday shows that home loans have been granted at a growing pace since last November’s interest rates rise, although first-time home buyers made up just 16.6 per cent of loans committed in May, down from 17.2 per cent the previous month, and well shy of the 26.1 per cent peak set in July 2001.

First home grants for nearly 1m
Sunday Herald Sun
Karen Collier reports grants handed out to first home buyers are about to top the one million mark. The first home buyer scheme started in July 1, 2000.

Those who don’t ask don’t get
Brisbane Times
Poor knowledge of loan products means borrowers could be missing out on a significant discount reports John Kavanagh. With a range of new loan products on the market research from Wizard and Genworth indicate that Australians are unaware or unwilling to use new products.

Costello to keep housing grant
The Australian
Federal Treasurer Peter Costello said the first home owner’s housing grant will stay and said there were three components to the mortgage issue which helped explain why many Australians were feeling home loan pain.

Easy money, if you can afford the repayments
Brisbane Times
Alex Tibbitts takes a look at the ease of getting a home loan in todays climate, even with repayments of nearly 50% of gross income. Jessica Irvine continues with an other article looking at the easy credit availability see: Home loans on tap: no deposit, no inspection

How to save on your mortgage
Perth Now - Sunday Times
How to save on your mortgage - Jason Bryce reports reviewing your mortgage makes sense, but chopping and changing lenders can prove an expensive option. Only a really slack person would make a 25-year investment and never bother to check to see how it was performing! Article takes a brief look at some of the ins and outs of getting a better deal.

Boom over as house prices fall
The West Australian
Dawn Gibson takes at look at the latest property reports from the Real Estate Institute of WA indicating that the boom times in property for Perth are over.