Last month, the Reserve Bank defied expectations with an additional 0.25% hike to the official cash rate. Lenders soon jumped at the opportunity to lift their interest offers on variable home loans – with some outrunning even the RBA with 35 - 50 basis point jumps.
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Despite 3.75% worth of Reserve Bank rate rises behind us, the housing market seems to have made a remarkable recovery, showing critical signs of life such as lifting auction clearance rates and a rebound in capital values.
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Borrowers have been feeling the squeeze since RBA began its rate hike spree and many have been trying to find strategies to keep themselves afloat—and refinancing might just be one of the favourites amongst Aussies.
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Good news! If you’re a first home buyer in New South Wales, some new proposed legislation may mean you no longer have to pay stamp duty when purchasing a property, up to a certain value.
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The Reserve Bank of Australia surprised the market in May with another 0.25% rate hike, but the market astonishes even more. In the last two days, many online lenders funded by Bendigo and Adelaide Bank have made sweeping changes to their variable offers for new customers, most at or over 0.30% p.a.
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The risk of a recession could be as high as 80% over 2023 and potentially 2024, according to internal Reserve Bank of Australia (RBA) research released under a freedom of information request.
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The National Housing Finance and Investment Corporation (NHFIC) has announced a new housing program for low-income women in ACT.
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Home loan customers will be interested to know that some banks are ending their current cashback offers for refinance home loans.
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If rising repayments have you itching to switch on your home loan, you’re not alone. Refinancers are in high demand, with lenders bringing out all the stops to win over eligible borrowers. You could walk away from your refinancing with a bonus of more than $3,000 in your pocket.
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