Category: Home Loan News
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Melbourne First-Home Buyer Navigates Housing Affordability Challenges
Sharna Hackett, a prospective first-home buyer in Melbourne, is eyeing her dream of owning a property in the bustling city. Having recently returned to Melbourne after securing a coveted job in the visual effects industry, she is now on the hunt for a two-bedroom apartment near her workplace. Years of diligent saving have brought her…
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Westpac Joins Australian Banks in Lowering Rates Amid RBA Expectations
Westpac has joined the ranks of Australian banks lowering interest rates in response to expectations of upcoming Reserve Bank of Australia (RBA) cuts. The move reflects a broader trend in the market as anticipation grows for potential easing measures. Home Loan Interest Rates in Germany: A Comprehensive Guide: Understanding the Factors that Impact Interest Rates…
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Home Loan Interest Rates Fluctuate as Lenders Adjust Rates for Borrowers
In a week marked by shifts in home loan interest rates, various financial institutions have made adjustments, reflecting a mixed yet generally positive outlook for borrowers, as reported by Canstar. Home Loan Interest Rates in Germany: A Comprehensive Guide: Understanding the Factors that Impact Interest Rates and How t… | $0.00 Last week, The Mutual…
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Major Banks, Including Westpac, Slash Home Loan Rates Amidst Rate-Cutting Trend
Westpac has recently made headlines by slashing its advertised home loan rates by over 1%, positioning its rates among the lowest offered by major banks. The bank’s move to cut rates on its packaged variable home loans for both owner-occupiers and investors has garnered attention in the competitive mortgage market. Home Loan Interest Rates in…
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ANZ Bank Error Wipes Out Woman’s Mortgage, Sparks Eight-Year Legal Battle
An Australian woman, Maria*, found herself in a nightmarish ordeal after an error by ANZ bank wiped out her entire mortgage. In 2017, Maria requested the release of a second mortgage on her Brisbane property, but ANZ mistakenly released both mortgages. It took Maria over a year to discover the error when she tried to…
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NAB Slashes Fixed Home Loan Rates Amid Economic Forecast and Market Volatility
National Australia Bank has made significant cuts to its fixed home loan rates, reducing some by 55 basis points. The lowest fixed rate now stands at 5.39% p.a. for three years for loan-to-value ratios (LVRs) of 70% or less. This move aligns with NAB economists’ bold forecast of a 50 basis points cut by the…
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CBA Changes Mortgage Rules, Benefits Graduates with HECS Debt
Commonwealth Bank (CBA) recently made a significant announcement regarding changes in how Higher Education Contribution Scheme (HECS) debts impact mortgage applications, potentially benefiting numerous university graduates aspiring to enter the property market. The Mortgage Prep Resource Guide: Your Key to Understanding the Mortgage Application Process from Origination to Closing. | $29.20 Effective immediately, CBA will…
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Survey Shows Growing Borrower Confidence in Australia’s Mortgage Market
A recent survey conducted by the Mortgage & Finance Association of Australia (MFAA) indicates a positive shift in borrower sentiment in Australia. Mortgage brokers are witnessing improved outlooks among clients as refinancing becomes more accessible and mortgage stress declines. Home Loan Interest Rates in Germany: A Comprehensive Guide: Understanding the Factors that Impact Interest Rates…
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Coalition’s Plan to Relax Lending Rules Sparks Debate on Housing Market
The Coalition’s election promise to relax lending rules could have significant implications for the housing market, potentially leading to larger home loans and increased house prices. Currently, banks are required to apply a 3 per cent serviceability buffer when assessing borrowers’ capacity, ensuring they can afford repayments both now and in the future without facing…
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Australian Mortgage Stress Declines, RBA Urges Prudent Lending Practices
Recent data suggests that Australian mortgage stress is on the decline, bringing relief to many households. The Reserve Bank of Australia (RBA) has emphasized the importance of prudent lending practices by banks to prevent potential risks in the housing market. Variable rate mortgages : hearings before the Committee on Banking, Housing and Urban Affairs, United…