Mortgage brokers are reporting a spike in borrowers switching to fixed-rate loans. With interest rates being so low, and possible further cuts to come, borrowers are looking to snap up the low rates on their loans for fixed terms while they can get it.
The first home owners grant (FHOG) is set for some changes in the new financial year. As of July 1st 2013 the current $7000 grant will be lifted to $10000. But there’s a catch. You must be purchasing a new home, or a home off the plan.
Planning Minister Matthew Guy began implementing the new planning zones for Victorian Councils this week.