In a surprise move St George has announced 1,2 & 3 year fixed rates are again below the 6 per cent mark at 5.99%. This goes against the recent trend on fixed rates and is even more surprising given the additional load this will place on what appears to be an already struggling loan processing [...]
Due to the ever changing interest rate environment, a lot of borrowers are considering locking on their mortgage with fixed interest rates so as to be protected especially now that lenders are decoupling from the RBA cash rate. A survey by AFG shows an increase in fixed rates with 25.4 per cent choosing it for [...]
As borrowers become more and more dissatisfied with mortgage rates offered by the big four, they started looking for other places to get better mortgage deals. Most recently Teachers Credit Union, the third biggest credit union in Australia, became the sixth mutual bank in the country. Which includes our very popular Heritage Bank who evolved [...]
Australia’s residential property market had a lift from first home buyers rushing to catch closing incentive programs. AFG reportsa total of 23.2% of the mortgage sales were fixed rates, which was also a recent record highest as it surpassed the previous 20.4% total for fixed rate loans recorded in October 2011. The average loan [...]
The 2012 Citi Fin-Q survey revealed this year more Australians are considering alternative home loan providers other than the big four. Approximately two-thirds or 65% of the 500 surveyed claimed to be doing so, a move which will set improvement in Australian banks’ competition. The same percentage of people surveyed by Citibank, believes that there [...]
CHOICE, Australia’s consumer watchdog, launches a campaign for people to stand up against the big four as a new research from the French bank Societe Generale reveals that the claimed high funding costs is questionable. A research note from Societe Generale states that, “the claim that the recent increase in mortgage rates is due to [...]
The number of first home buyers is going down especially in Wollongong, in New South Wales. A Local real estate principal, Greg Chadwick of Dougmal Harcourts Wollongong, reported that since last year, he had not seen a first home buyer. Chadwick said this to The Adviser and blamed it on the NSW government’s decision when [...]
Australia’s 2012 home finance market will have first time home buyers as its most active players, this according to a national survey. A group of mortgage brokers answered a poll and results showed that 36% believed that first home buyers are the one who will dominate this year’s housing finance market. Of the 252 surveyed [...]
New research conducted by PRDnationwide has revealed that sales activity for properties in major mining towns like Rockhampton and Yeppoon is increasing mainly due to the drive brought by the resources boom. Rockhampton’s median sales price reached $285,000 or a 1.6% increase whereas the suburb Yeppoon recorded an increase in sales, which in the last [...]
PRDnationwide just released results from their new research for volume of sales which revealed that out of Queensland’s top 20 suburbs, 18 were located in mining regions. Gracemere came out on top for the state’s top suburb for sales activity. It recorded a sales increase of 63% in the six months to June compared to [...]