The Reserve Bank says homeowners have used between 50 and 90 per cent of the money saved from ongoing interest cuts to pay down their mortgages ahead of schedule.
Housing affordability in Australia always seems to be under the microscope, but it is still possible to buy a house within 10kms from Melbourne’s CBD for under $600,000.
Lending newcomer Yellow Brick Road has urged the government to teach financial literacy in schools.
Some banks are offering recently graduated medical professionals and doctors home loans with a loan to value ratio (LVR) of 90 per cent.
For the first time in five months, new home sales have taken a tumble.
The Housing Industry Association (HIA) has released its new home sales report and sales volumes fell 4.3 per cent in May.
Fitch Ratings have released some data that show an unexpected increase in mortgage delinquency in Victoria, with some Melburnians struggling to keep up repayments on their mortgage.
The building of new homes in Australia is gaining momentum, with new figures from the Australian Bureau of Statistics revealing the best levels in four years.
Potential property buyers are faced with increasing confusion, with potentially misleading loan-to-value ratios (LVRs) being advertised on home loans.
Mortgage delinquencies are down across Australia in the last year, suggesting home owners are finding it easier to pay their mortgages.
The country’s biggest mortgage broker, AFG, has reported a 16 per cent jump in the value of home loans processed last month after interest rates were cut quarter of a per cent back in February.
