Tag: home loan news

Amid a changing landscape in Australia’s property market, investor loans have surged to record levels, outpacing the growth in owner-occupier loans, as reported by Money.com.au. The latest Mortgage Insights data reveals a substantial 22% increase in investor loans nationwide, totaling 192,843, compared to a more modest 6% rise in owner-occupier loans, which reached 322,273 over…

ANZ and Macquarie, two prominent Australian financial institutions, have recently made significant adjustments to their fixed home loan rates, signaling a proactive stance ahead of the upcoming Reserve Bank of Australia (RBA) cash rate announcement. This strategic move by ANZ involves a reduction of 0.25 percentage points for one-year fixed rates for owner-occupiers and a…

In an effort to facilitate more first-time homebuyers’ entry into the market, the government has announced an increase in income and property limits for the forthcoming shared equity Help to Buy scheme. This move precedes the upcoming federal budget announcement by the Albanese Government, which aims to support more individuals in purchasing their first homes.…

Despite the ongoing cost of living crisis, Australian mortgage arrears have shown a decline, as new forecasts suggest a potential 4-6% increase in national home prices over the next year. The latest data from the Fitch Ratings’ Dinkum RMBS Index for the last quarter reveals a 7 basis points drop in 30-plus day arrears to…

The Bank of England opted to maintain its interest rates at 4.5% during its March meeting due to heightened global economic uncertainties. This decision marked a significant low in rates, following a series of cuts from 4.75% in February, making it the third reduction since August 2024. Interest rates play a crucial role in influencing…

In the latest development in the competitive landscape of home loans, Westpac has entered the fray by matching ANZ’s low variable rate. This move by Westpac, one of Australia’s major lenders, comes as part of the ongoing mortgage wars aimed at attracting and retaining customers in the highly competitive home loan market. With the announcement…

Westpac has introduced a competitive home loan rate of 5.84% per annum in a move to ignite a refinancing rate battle. This offer targets new customers with a 30% equity stake in their properties. The bank’s “Special Online Refinance Offer” marks a 35 basis point reduction from its previous lowest rate. This rate matches ANZ…

Specialist Lenders Transform Home Loan Access for Unique Borrowers In the realm of home loans, specialist lenders are emerging as crucial players in providing financial solutions to deserving borrowers who often fall outside the traditional lending criteria. This shift in the lending landscape is opening doors for individuals like Scott, a small-business enthusiast whose dream…

Westpac, one of Australia’s major banks, has recently made a significant move by reducing its variable home loan rates, signaling the onset of a potential rate war among the country’s leading financial institutions. This decision comes as Westpac aims to stay competitive in the mortgage market and attract new customers amidst increasing competition. The bank…

Amid Economic Pressures, NAB Reduces Home Loan Rates by 0.25% In response to the Reserve Bank of Australia’s recent decision to lower the cash rate by 0.25%, the National Australia Bank (NAB) has announced a corresponding reduction of 0.25% in its standard variable home loan interest rates, set to take effect on 28 February. This…