Category: Home Loan News
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Recent Australian Mortgage Rate Adjustments Reflect Economic Shifts
This past week witnessed subtle yet noteworthy movements in the Australian mortgage market, with several lenders adjusting their rates. Canstar’s recent rate update revealed that five lenders reduced their variable rates by an average of 0.07%, while two others made cuts to 28 fixed rates by an average of 0.17%. The Australian Guide to Buying…
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ANZ Economists Predict Significant Rate Cuts Amid Global Uncertainty
Australian mortgage holders are bracing for potential changes in interest rates, with ANZ economists suggesting that rate cuts could come sooner and in greater magnitude than previously anticipated. This shift follows US President Donald Trump’s announcement of a 10% tariff on all imports, which could impact Australia’s exports to the US. The Australian Guide to…
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Speculation Grows: Will Lower Rates Spark Australian Housing Boom?
As interest rates in Australia are on the decline, there is speculation about the potential for another surge in house prices. Mortgage pre-approvals have already started to increase, indicating a growing interest among prospective homebuyers due to the prospect of lower home loan costs. With expectations of further rate cuts, economists are foreseeing the possibility…
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ASIC Sues Westpac’s RAMS for Home Loan Misconduct
Corporate regulator ASIC has taken legal action against Westpac’s RAMS, accusing the lender of widespread misconduct related to home loans. The lawsuit alleges that RAMS failed to oversee its staff adequately, leading to instances of falsified pay slips and manipulated financial information on mortgage applications. These actions, according to ASIC, violated credit laws and involved…
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Home Loan Market Stability Amid Rate Adjustments and Uncertainties
Amid speculation of a potential cash rate cut and the recent federal election outcome, Australia’s home loan market maintained stability last week, with most lenders refraining from significant changes in light of uncertainties. The Australian Guide to Buying Your First Home: How to Increase Your Income, Manage Your Mortgage and Get Debt-Free | $18.66 Only…
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Regional Australia Bank Cuts Mortgage Rates to Attract Borrowers
Regional Australia Bank has made a significant move in the mortgage market by reducing its lowest two-year fixed home loan rate to 5.25% p.a., setting a new competitive standard. This rate cut is targeted at owner-occupiers with a loan-to-value ratio below 60%, offering them a favorable deal on principal and interest repayments. The bank’s decision…
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Police Bank Slashes Home Loan Rates, Trends Shift Below 5%
Police Bank recently made a significant move by slashing its fixed home loan rates below 5%, a trend indicating potential changes in the mortgage market. The decision saw a reduction of up to 1.15% in three-year rates, dropping them below the 5% threshold. This development comes after two-and-a-half years of average new home loan rates…