Author: MAXISLoans
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Record High Home Loan Borrowing Across Australia, Except Victoria
Record High Home Loan Borrowing Across Australia, Except Victoria In a trend sweeping across Australia, home loan borrowing has surged to unprecedented levels, setting record averages in most regions, with one notable exception being Victoria. Recent data reveals a significant spike in the average new loan size for owner-occupiers nationwide, reaching a record high. The…
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How to Finance a Tiny Home in Australia
In recent years, the tiny home movement has been gaining popularity in Australia as more people seek affordable and sustainable housing options. Tiny homes offer a minimalist lifestyle with lower costs and a smaller environmental footprint. However, one of the challenges of owning a tiny home is figuring out how to finance it. In this…
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Understanding Reverse Mortgages: Are They Worth It?
Reverse mortgages have become a popular financial tool for retirees looking to tap into their home equity without having to make monthly payments. While these loans can provide much-needed cash flow for older adults, they also come with risks and drawbacks that need to be carefully considered. In this article, we will delve into the…
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NAB Cuts Home Loan Rates by 0.25% in Response to RBA
National Australia Bank (NAB) has recently announced a reduction in its standard variable home loan interest rate by 0.25%, scheduled to take effect from 28th February. This decision comes in response to the Reserve Bank of Australia’s (RBA) similar reduction in the cash rate by 0.25%. Ana Marinkovic, NAB Group Executive of Personal Bank, expressed…
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Home Loan Rates Drop: Relief for Australian Homeowners
Australian homeowners are experiencing a positive shift in their financial landscape as various lenders, including major banks, have recently announced reductions in home loan rates. This follows a decision by the Reserve Bank of Australia to lower interest rates, providing relief to many mortgage holders. For those with variable-rate loans, the rate cuts translate into…
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Savings Rates Plummet: What the RBA Interest Cut Means for Savers
Following a recent decision by the Reserve Bank of Australia to reduce the official cash rate by 25 basis points, the impact on savings rates has become a topic of concern for many savers. While home loan borrowers have quickly seen the benefits of lower interest rates, savers are facing a different scenario with diminishing…
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Banks Cut Savings Rates Post RBA Interest Rate Reduction: Impact on Savers
Following the recent interest rate cut by the Reserve Bank of Australia (RBA), banks have swiftly responded by reducing home loan rates, impacting savers in various ways. While mortgage customers have been promptly informed of rate decreases, the adjustment to savings rates has been less transparent, leaving savers with diminished returns on their deposits. A…
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Banks Delay Passing RBA’s February 2025 Rate Cuts to Customers
In recent Home Loan News, following the Reserve Bank of Australia’s (RBA) rate cut in February 2025, there has been a delay in banks passing on the cuts to their customers. While major banks like Commonwealth Bank, ANZ, NAB, and Westpac swiftly implemented the full 25-point reduction, smaller lenders such as FreedomLend, Mortgage House, and…