As rising interest rates and inflated property prices push the dream of owning a home out of reach of many ordinary Australians, the question must be asked: are we facing an affordability crisis?
If it hasn’t happened to you, then it’s likely that you know someone who has ended up stuck with a mortgage that didn’t suit their needs.
If you were to walk down the street and canvas the people who pass by, you’d be hard pressed finding someone who doesn’t have at least one credit card. In fact, most of us have two or three visas and mastercards and on the go at any one time, with varying credit limits and balances.
The key to a success renovation is to research which specific renovations work well in your local area, the experts say.
You don’t need a fire under you to change your home loan? Find out what’s making refinancing hot, hot, hot!
There are countless reasons why it pays to use a broker when shopping for your home loan, and even if you want to use your own bank for your mortgage, you can still use a mortgage broker to process paperwork and manage the application on your behalf.
The ANZ has joined the chorus of cutting fixed mortgage rates, cutting two and three-year loans by 60 basis points to 6.44 per cent. Westpac and the Commonwealth Bank also recently announced rate cuts after massive falls in global share markets.
In fact, there are many aspects to financing that your bank may not necessarily tell you about. The following are some of the hidden truths your lender is unlikely to tell you about:
RBA deputy governor Ric Battellino has commented that the Reserve Bank board has had to balance higher-than-anticipated inflation with slowed economic growth. Battellino said inflation for 2011 is likely to trend higher than was forecast last year, while growth estimates have had to be revised downward amid global economic uncertainty and this year’s natural disasters.
When investors talk of buying positively geared property, where are they looking – and do these types of investments still really exist?
