In a rush to get home loan and investment loan paper work processed before Christmas, lenders have set specific dates for submission. Below I have provided a list of estimated cut off dates before the 23rd December deadline. This summary of what lenders are doing and you should check with your lender or broker Read More
In the last months we have seen lenders tightening up their lending to property investors for both existing and new customers. The Australian Prudential Regulation Authority (APRA ) recently moved to tighten lending criteria for property investment loans, many lenders are forced to reduce their lending risks. Why? The reason for the stricter lending criteria is Read More
UPDATE 2 – 7/5/13 @ 5:20 pm: Commonwealth Bank and Westpac will also reduce their variable mortgage rates by 0.25%. We will have to wait until Friday for ANZs decision. I expect St George Bank, Bank of Melbourne, Bank SA and RAMS all to follow their owner Westpac. Check below for more changes. UPDATE 7/5/13 Read More
Yesterday the Reserve Bank of Australia announced that variable interest rates remain on hold at 3.00%. While variable interest rates remain on hold for February, Fixed rate loans are falling. Unlike variable rates that usually move with RBA announcements fixed rate loans can move at any time. A number of the major lenders have announced Read More
ANZ announced late this afternoon that they will be increasing their variable home loan mortgage rates by 0.06%. ANZ claimed higher funding costs as a result for the increase. This will add approximately $100 a year to a $300,000 home loan. Typically the other banks have followed when one lender increases interest rates. We will Read More
The Reserve Bank of Australia decided to leave interest rates on hold today. So there will be no relief for business borrowers and home loan borrowers for the month of April. They have left open the door for future interest cuts for up coming months but business, especially retail are calling for them to be Read More