Are you one of the increasing number of Australian home loan holders who are having problems making their mortgage repayments? Apparently the number of people getting into trouble with their mortgages is on the rise, according to data released earlier this week. Not only that, the prediction is that it’s only going to get worse..... Keep Reading »
I may not always be a big fan of politicians – from any party – but any politician who tells my bank not to raise my mortgage interest rate has got to be okay in my books. That’s what the federal treasurer Wayne Swan has been saying this week after a big government announcment on the ending of bank funding guarantees..... Keep Reading »
Despite many predictions to the contrary, the Reserve Bank of Australia met today and decided not to raise the official cash rate again. Good news, and quite unexpected, for all of us mortgage holders out there who had been expecting to see another rise in interest rates..... Keep Reading »
It’s official: the Christmas interest rate rise pretty much the whole of Australia was expecting came through in last week’s Reserve Bank announcement. From 2 December 2009, the official cash rate was raised by 25 basis points to 3.75 per cent, just as anticipated..... Keep Reading »
The Reserve Bank is getting ready to, by all accounts, give us an un-Christmas present later on today. Like we suggested a couple of weeks ago, an interest rate rise in December looks like something no smart money would bet against.
While we won’t know for sure until the middle of Tuesday afternoon whether or not the Reserve Bank has decided to raise interest rates, apparently many Australians are already planning for an interest rate rise. According to a survey written up by the Sydney Morning Herald, more than half of the respondents (56%) claimed that because of the likelihood of interest rate rises on their mortgage, they were already planning to scale back their spending on Christmas gifts and the holiday season in general. Apparently, one in three people intend to put extra money into their mortgage repayments or credit card debt over the holiday season too, and you might want to check around to find out if your family and friends belong to the one in seven respondents who said they would be asking for gifts of money instead of material items.
The likely interest rate rise to come out of the Reserve Bank meeting is another 25 basis points, according to most commentators, which means the cash rate would rise to 3.75 per cent. Judging on their recent behaviours, it would look likely that the major banks will pass on the same quarter of a per cent rise, and that will mean nearly $50 a month more to pay on the average mortgage of $300,000. The sentiment around the place is that this won’t be the last rate rise, either, so plenty of mortgage holders, or those looking to sign up for a new mortgage soon, will be realising they have to tighten up their spending over a time of the year when we traditionally go a little crazy at the cashier..... Keep Reading »
With mortgage interest rates starting to rise, a lot of people are starting to think about buying their first property or upgrading to their next home. With a good chance that interest rates will rise again before Christmas, the media is getting on board too with plenty of surveys, advice and features about who will be buying, where, and how they will afford to pay their mortgage back..... Keep Reading »
You know how people always ask if you want the good news first, or the bad? That seems to suggest good and bad news always come together, and this week that seems to be true again. Let’s start with the good news in Australia: unemployment figures are looking healthy..... Keep Reading »
While Australians are still enjoying mortgage rates a lot lower than past years, that interest rate figure is creeping up. Last week, while many Australians were distracted from some kinds of money matters by the more pressing issue of how much money they could win on the Melbourne Cup, the big four banks raised their variable mortgage interest rates to match the official 25 basis point increase from the Reserve Bank..... Keep Reading »
The recap of mortgage, home loan and housing news in Australia..... Keep Reading »
The recap of this weeks mortgage, home loan and housing news in Australia.
Here is top stories for the week ending 08/06/08:
Survey finds record slump in house prices
news.com.au
Produced quarterly the Mortgage Choice / Real Estate Market Facts indicates housing prices have have cooled off a little. The report which surveys the capitals and major regional cities states there has been a 2.7% fall from the last quarter to the current March quarter although rents are rising. (more…)
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The recap of this weeks mortgage, home loan and housing news in Australia.
Here is top stories for the week ending 25/05/08:
Prime mortgage market delinquencies up
SMH
Credit ratings agency Fitch Ratings says the Australian prime mortgage market showed an increase in 30-plus day delinquencies , increasing to 1.31 per cent in the quarter, from 1.07 per cent at December 31, 2007.They also state that levels of prime mortgage market delinquencies in Australia were still low by international standards. View Story » (more…)
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The recap of this weeks mortgage, home loan and housing news in Australia.
This week it’s all about the Federal Governments Budget – here is top stories for the week ending 18/05/08:
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The recap of this weeks mortgage, home loan and housing news in Australia.
The top stories for the week ending 11/05/08:
Real World Facts Emerge on ‘Mortgage Stress’
Genworth Financial, who provide Lenders Mortgage Insurance, have released details of a report indicating that out of the one million policies currently in place that 5000 of those may be classified as under stress being 90 days in arrears. (more…)
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The recap of this weeks mortgage, home loan and housing news in Australia.
The top stories for the week ending 04/05/08:
Rent a block: ACT Govt to make land ownership optional for homebuyers
The Canberra Times
I a new approach to housing affordability low income earners moving into the Canberra housing market will have the option of renting the land on which they build their homes under a new scheme to be outlined in the upcoming ACT Budget reports Tom Skotnicki. (more…)
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The recap of this weeks mortgage, home loan and housing news in Australia.
The top stories for the week ending 27/04/08:
Mortgage stress levels could rise: study (more…)
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