Today, NAB cut its 3-year fixed rate home loan by 0.60%, marking the first time a Big Four bank has shifted fixed rates since the Reserve Bank of Australia (RBA) hiked the cash rate to 4.35% in November 2023.
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The number of new homes to be built in Australia rose in May, though approvals were mostly for units, based on the latest data from the Australian Bureau of Statistics (ABS).
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Newcastle Permanent has cut the interest rate on select variable rate home loans by up to 0.10% p.a., with its Real Deal Home Loan (LVR <80%) dropping to 6.09% p.a. (6.13% p.a. comparison rate*).
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There were 1,747 property auctions recorded across Australia last week, which represents the lowest count since the King's Birthday long weekend in mid-June, says Corelogic.
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The number of Australians falling behind on their home loans has reached its highest level since March 2021, according to CoreLogic.
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Home prices in Australia are forecast to continue rising over the next 12 months and lead to a ‘reshaping’ of how we see the Australian dream, Domain’s chief of research and economics, Dr Nicola Powell told Mozo.
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I recently did a cost vs. savings check, which hit harder than an opening State Of Origin tackle!
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New research from Mozo for the 2024 Home Loan Report discovered that a startling percentage of mortgage holders think refinancing isn’t worth the effort when it could save them tens of thousands.
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The Reserve Bank Australia has held the cash rate at 4.35%.
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Over the last two years, the home loan market has been rocked by a series of rate hikes thanks the Reserve Bank of Australia (RBA). The central bank has been chasing runaway inflation with tighter monetary policy.
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