A key constraint on borrowing limits that was put in place during the property boom has been removed by the banking regulator. It's another move that may stimulate the soggy mortgage market. The changes could allow a household on an average income to borrow up to $77,000 extra from a bank,...
Following mounting expectation of a further cash rate cut after June’s reduction of 25 basis points, the Reserve Bank of Australia (RBA) has just announced its July decision. The RBA has again reduced the official cash rate by 25bps, resulting in a new record low of 1%. According to Canstar group executive...
Your credit score is like going to the doctor for many – you don’t have a check-up unless you absolutely need to. The Veda Australian Credit Scorecard, surveying the credit behaviour of people nationwide, proves this to be true for Aussies, with only 30 per cent of people concerned about...
When it comes to the relationship between your credit card history and loan applications, it seems many people are in the dark about what’s truth and what’s not. Gather a group of normal Australians in a room and ask them about the role their credit card plays in getting a loan...
After your home loan settles, it’s easy to feel like you’re being left high and dry now that your broker’s job is seemingly done. However, rest assured we aren’t going anywhere, and can offer you on-going support even after helping you settle your loan. Some of the additional services we can...
Melbourne’s market correction was not as grim as what market watchers thought it would be, according to a report by news.com.au. Some of the country’s data providers and banks forecast nearly 10% losses to house values in 2018. CoreLogic and National Australia Bank, for instance, predicted losses of about 9.1% to...
The central bank has reduced the official cash rate for the first time since August 2016, with mortgage rate cuts expected to follow. The Reserve Bank of Australia (RBA) has cut the official cash rate to 1.25 per cent, following its monetary policy board meeting. The central bank’s decision was predicted by...
While housing affordability is improving across the country, for many young first home buyers cracking into the property market can feel like breaking into a fortress. Here are five ideas that can help bust down that door. Housing affordability for new mortgage borrowers in Australia will continue to improve over the...
Mortgage brokers settled just over $198 billion in home loans in 2018, a record amount for the year-to-September period, according to the latest Industry Intelligence Service Report, 7th edn., compiled by comparator and published exclusively by the MFAA. The latest report, for the April-to-September 2018 period, also saw the mortgage broker population exceed...
The stars are aligning for home buyers with a new formula to be used by the banks in assessing mortgage applications that will make it easier to get home loans. After months of restraining bank lending, on Tuesday the prudential regulator said it would soften rules around mortgage 'stress tests'. The move...
