UBank has long been a favourite for cost-conscious Aussie borrowers looking to save on their home loans. Its stellar range of low-cost loans are even more attractive with their generous limited time cashback offer.
It’s been nearly one year since the Reserve Bank of Australia began raising the cash rate to curb inflation, taking us from 0.10% in May 2022 to 3.60% in March 2023. Many economists agree we’re approaching the end of this tightening cycle, as the economy has shown signs of contraction. But has the RBA gone far enough in its crusade to slow the economy?
Saving up to buy property in today’s market can be an uphill battle. Australian homes are already some of the most expensive in the world, and when you factor in rising interest rates, it can feel like there’s no end to the challenges first home buyers face.
As property prices fall further from their peaks, young Australians looking to take out a home loan have been given a second wind, with data from Domain showing the time required to save a deposit has fallen in almost all capital cities.
For most Australians, home ownership is the ultimate symbol of security. But a lot could happen before your mortgage is paid off and your home is officially yours.
Renters, don’t worry! Your landlord may be increasing your rent to record highs, but good news: they’re also not investing in new properties because it’s too expensive, so you have nowhere cheaper to move to!
These days, a lot of media attention revolves around the so-called fixed rate cliff — the thousands of mortgage holders whose repayments will skyrocket once their fixed rate terms expire in the coming months.
With what seems like an endless amount of RBA rate rises, it’s little wonder more Aussies than ever are choosing to refinance their mortgages for a better deal. But when making the educated decision to change lenders, there are a few things borrowers should consider before making the switch.While it’s true; refinancing can be a great way to save money on repayments and reduce the overall cost over the life of your loan, there are still common mistakes borrowers make when navigating the home loan market. So if you think you’re ready to refinance, consider these 6 things, before signing on the dotted line.
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