Tag: home loan news

In recent news, a significant development in APRA’s policy is poised to have a considerable impact on the borrowing power of potential home loan applicants. This change, proposed by Peter Dutton, aims to revise the serviceability buffer utilized by banks during the assessment of home loan requests. Historically, the serviceability buffer stood at 2.5%, but…

In recent political discourse, Peter Dutton has proposed a new home loan policy that aims to assist potential homebuyers, especially young individuals lacking familial financial support. The Coalition’s initiative seeks to modify existing home lending regulations by adjusting the criteria used to assess an individual’s borrowing capacity. The key focus of the Coalition’s plan revolves…

The recent proposal by APRA to lower the serviceability buffer has the potential to significantly impact the borrowing power of prospective home buyers. This move, if implemented, could essentially provide buyers with a boost akin to a rate cut, making it easier for them to secure home loans and enter the property market. The current…

Amidst the anticipation of the Reserve Bank’s impending rate decision, the Australian mortgage market is witnessing subtle yet significant shifts in home loan rates. Various lenders have recently made adjustments to both variable and fixed rates, affecting a wide range of loan products tailored for owner-occupiers and investors. In a move reflecting the evolving economic…

In recent findings from Great Southern Bank’s Smaller Small Business Research, it has been revealed that a significant number of small business owners, approximately 4 out of 10, are encountering challenges in securing home loans. This poses a notable obstacle for entrepreneurs striving to own a home, with 20% of small business proprietors still in…

Bank of Queensland (BoQ) has made a significant move in the mortgage market by slashing up to 15 basis points off variable rates for both owner-occupier and investor home loans. This decision comes in the wake of the Reserve Bank of Australia’s first cash rate cut in four years in February, prompting various lenders to…

Melbourne is witnessing a remarkable shift in homeownership dynamics, as traditionally overlooked suburbs now rival prestigious areas in the percentage of mortgage-free properties, according to insights from SuburbTrends. The trend reveals that residents in affordable neighborhoods like Thomastown, St Albans, Fawkner, and Altona Meadows are increasingly debt-free, competing with affluent regions such as Brighton, Balwyn,…

ANZ and Macquarie, two prominent Australian financial institutions, have recently made significant adjustments to their fixed home loan rates, a move that precedes the forthcoming Reserve Bank of Australia (RBA) cash rate decision. ANZ, one of the country’s leading banks, has decided to reduce its one-year fixed rates for both owner-occupiers and investors who are…

In recent news, the focus is on the potential pitfalls of refinancing home loans without an offset account, particularly in light of Westpac’s recent move. Westpac’s decision to reduce its variable home loan rate to 5.84% for refinancers, aligning with ANZ as the best rate among major banks, has stirred the market, sparking what some…

Australian home loan borrowing has reached unprecedented levels, setting records nationwide, with a notable exception in Victoria. The average new loan size for owner-occupiers in Australia has surged to a historic high, surpassing previous figures by a substantial margin. The Reserve Bank of Australia (RBA) has maintained interest rates at a 13-year high of 4.35%,…