Most home loan customers could withstand a financial downturn: RBA
The Reserve Bank of Australia (RBA) has found “the vast majority of borrowers would remain able to service their debt under a range of plausible economic scenarios”, according to the central bank’s latest Financial Stability Review. Crucially, about 97% of borrowers have positive cash flow, which means they’re able to meet their mortgage commitments and potentially […]
Variable Home Loan Interest Rates and Trends
Unlike a fixed-rate home loan, where rates remain constant for a fixed period, variable interest rates fluctuate based on the official cash rate set by the Reserve Bank of Australia (RBA) and other market factors. These fluctuations directly impact your home loan repayments, including principal and interest repayments. Variable rate home loans often offer flexibility, […]
Debt Recycling: A Smart Strategy to Pay Off Your Mortgage & Grow Wealth
Have you ever wondered if there’s a way to turn your home loan into an investment tool? Debt recycling might be the answer. It’s a strategy that converts (recycles) your non-deductible (bad) debt into tax-deductible (good) debt, helping you pay off your mortgage faster while investing for the future. But is debt recycling worth it? […]
Record number of consumers turning to brokers…
About three-quarters of homebuyers are now using mortgage brokers, according to the latest data from Comparator. In the September quarter, brokers originated a record-high 74.6% of all new home loans, while banks originated a record-low 25.4%. Choice is the number one reason homebuyers prefer brokers – a broker will compare home loan products from a […]
Government unveils new assistance scheme for owner-occupiers…
If you’re a lower-income or middle-income earner, you will soon have a new way to buy a property, after the federal parliament passed legislation for ‘Help to Buy‘.‘. Under ‘Help to Buy’, individual buyers who earn less than $90,000 per year or joint buyers who earn less than a combined $120,000 will be able to […]
How Much Mortgage Can I Afford? Unlock Your Dream Home
Purchasing a home is a significant milestone, and one of the most common questions potential homebuyers have is, “How much mortgage can I afford?” Understanding your financial readiness is crucial for making informed decisions and securing your dream home. In this blog post, we’ll explore how mortgages work, the key factors influencing affordability, and practical […]
Fixed vs Variable Rate Mortgages for First-Time Buyers: Pros and Cons
When it comes to securing a home loan, one of the most critical decisions you’ll face is selecting between a fixed-rate mortgage and a variable-rate mortgage. Each option has its benefits and drawbacks, and the right choice depends on your financial situation, market conditions, and long-term goals. In this blog, we’ll delve into the differences […]
