Large numbers of borrowers will soon be coming to the end of their fixed-rate period, with Commonwealth Bank alone revealing that $44 billion of fixed loans will expire this year, according to Canstar.
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I work with a large panel of lenders, many of which are offering special deals to people who refinance, so there’s a good chance I can help you switch to a lower-rate loan. That will help offset any future rate rises.
National residential construction costs increased 9.0% over the 12 months to March 2022, according to CoreLogic’s Cordell Construction Cost Index.
That was the highest annual growth rate on record apart from the introduction of the GST in 2001, and means Australians are having to pay more money to build or buy new homes.
The big four banks have forecast that the Reserve Bank will begin lifting official interest rates from June. If and when that happens, lenders will almost certainly increase their home loan rates.
You might not realise that taking on HECS-HELP debt can make it harder to qualify for a home loan and reduce your borrowing capacity.
There is more to investing than just purchasing a block of land. Every city and suburb has unique factors contributing to supply and demand. So it is vital to understand who is living in the area, what makes them stay for the long term, and the average rental yield and vacancy rates.
First home buyers can now save their deposit even faster after the First Home Super Saver Scheme savings threshold was increased from $30,000 to $50,000.
The Reserve Bank has said it will increase the cash rate at some point. When that happens, banks generally pass the rise over to consumers who experience a mortgage rate rise. So what can you do to prepare?
An extra 4,651 first home buyers will be able to access federal government assistance during the 2021-22 financial year.
The government had originally pledged to support 20,000 first home buyers this year – 10,000 under the First Home Loan Deposit Scheme and 10,000 under the New Home Guarantee.