Today’s trending stories in Australian home ownership and Home Loans.
- Home loan applicants face delays after mislabelling transactions as adult entertainment
Lenders are scrutinising suggestive jokes appearing in the bank statements of prospective home buyers, potentially causing delays to their mortgage applications.
Some young first-home hopefuls are in the habit of repaying friends for their share of group dinners at a restaurant, for example, but are not labelling the transaction as dinner through their banking app.
Instead, they may describe the funds transfer as for sexual services or illicit drugs.
- CBA keeps half of RBA cut unless you're specufesting
… it would lower rates by 0.13 percentage points for all owner-occupiers and for property investors who are paying principal and interest on their loans.
- CBA fails to pass full rate cut on most loans
Property investors with interest-only loans will receive the full 0.25 … economist Geordan Murray said the recent rises in house prices had not yet translated … home buyers pursuing their home ownership aspirations,” Mr Murray said.
- Sydney and Melbourne house prices are back posting “boom time” gains
Recent ABS stats showing credit growth to home loan borrowers expanding quickly year-on year also lines up with the data around rising house…
- Mega RBA home loan rate cuts announced
Home loan rates are plunging below 3.00% in the wake of the latest RBA rate cut, and smaller non-bank lenders are once again leading the charge.
- Statement by Philip Lowe, Governor: Monetary Policy Decision
Media Release Number 2019-27: At its meeting today, the Board decided to lower the cash rate by 25 basis points to 0.75 per cent.