Home loans being discounted more than normal by the banks.

9 August 2011

Looks like competition is hotting up in the Australian mortgage market. Variable  home loan rates have traditionally been discounted by 0.70% when borrowing more than $250,000, and now we are seeing discounts over 1%. Discounts depend on the lender but there is a common theme amongst the banks. They are looking for low risk borrowers that borrow less than [...]

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Mortgage Calculator – Offset and Extra Repayments

8 August 2011

Have you tried our mortgage offset calculator. This is a powerful tool that shows how extra repayments and money held in an offset account helps pay your mortgage quicker. Here are a few examples; 1. Jim and Mary have a $300,000 loan over 30 years at an interest rate at 7% per annum. They place $10,000 in their offset account over [...]

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Interest Rates On Hold – Lenders Reducing Rates

8 August 2011

August brought about another interest rate hold bringing relief to many mortgage holders. Mixed messages from economists is making it difficult to get an indication on where the interest rate market is heading. The Reserve Bank of Australia considered raising rates but left them on hold and are adopting a wait and see approach for [...]

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Interest Rates On Hold for Now!

7 June 2011

The Reserve Bank of Australia have decided to give mortgage holders a reprive this month by keeping the cash rate at 4.75%. This is the sixth straight month the RBA have kept interest artes on hold but they have been keen to raise interest rates at some stage in the future. Softer housing prices, the [...]

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Tips for Home Loan Refinance – Costs of Switching Mortgages

15 March 2011

Before you refinance your home loan in Australia it is important to find out the true cost of switching lenders. You will need to take into account exit and entry fees.  It is only when the lower cost in interest rate offsets the fees paid is when you may consider switching lenders. Below  are costs you should [...]

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Mortgage Calculators to Find Out How Much You Can Borrow.

14 March 2011

Australian online mortgage calculators can provide a good guide as to how much you can borrow. However,  you need to be realistic when using these calculators as they make various assumptions about your living expenses and lifestyle. Here are some calculators to help you make a more accurate assessment of how much you can realistically borrow. A budget [...]

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