Mortgage Refinancers Boost Loan Market Activity

More and more Australians are looking for a better deal on their home loan, with the most recent data from the ABS revealing that refinancing activity jumped by 17% over 12 months and 5% over three months. With the RBA having since instigated back to back interest rate cuts, it is predicted that real estate activity will increase further in the coming months. “The RBA rate cuts in November and December have brought forward queries of those looking to refinance and also first home buyers, p...
More

Mortgage exit fees get banned, we can switch home loans freely

Just last week we were talking about the fact that few Australians consider changing their home loan provider, even though the figures would suggest that it's possible to save a lot of money by doing so. Definitely one of the reasons that not many people think about this - me included - is that we are concerned about the high exit fees we might have to pay if we get out of our mortgage early. Fear no more! For home loans taken out from July 1, 2011, the federal government has just announced t...
More

Many Aussies looking to change their mortgages, but be careful

It's probably inevitable that with a cash rate rise from the Reserve Bank and the subsequent interest rate rises on home loans - especially from some banks like the Commonwealth Bank whic hiked their rate by almost double the Reserve Bank's increase - there will be home loan customers who are thinking about switching to a different home loan, hoping for a better deal. In fact, news this week from mortgage brokers is that they have been flooded by home owners trying to find out if there is a b...
More