Australian Home Loans News

Big bank bash continues in 2012 - Jan 16, 2012
While Australian cricket's Big Bash has been attracting attention, the far more regular big bank bash is already on again...

Banks launch bid to ease mortgage stress - Dec 06, 2011
Australia's major banks are hoping to prevent increased levels of mortgage stress by launching a website to help borrowers avoid defaulting on their mortgage repayments...

Interest rate cut to test mortgage exit fee ban - Nov 07, 2011
Yesterday's decision by the Reserve Bank of Australia (RBA) to lower the official cash rate by 25 basis points to 4...

Fixed interest rates fall as banks battle for business - Oct 21, 2011
Almost 90 per cent of fixed rate home loans have fallen since 1 August, with some fixed rates now available under the 6 per cent mark, according to research by financial comparison website RateCity...

LMI fact sheet will provide greater education for borrowers - Genworth - Aug 22, 2011
Mortgage insurer Genworth Financial has supported a government move to introduce a fact sheet to educate homebuyers on home loans with lenders mortgage insurance (LMI)...

House approvals slide as credit growth halts - Jun 07, 2011
The number of new homes approved fell in April, as the amount of new loans also remained flat compared to the previous month...

Swan takes credit for cheaper mortgages - May 30, 2011
The Government’s banking reforms announced in December last year, including a ban on exit fees, have already resulted in improved rates for consumers, according to Treasurer Wayne Swan (pictured)...

Inquiry urges rethink on mortgage exit fee ban - May 09, 2011
A Senate inquiry into competition in the banking sector is recommending the Government reconsider its ban on mortgage exit fees...

Small lenders rail against exit fee ban - Mar 25, 2011
Small lenders are hitting out at the Federal Government's ban on mortgage exit fees which passed into law this week...

Unexpected jump in mortgage arrears - Mar 21, 2011
A major ratings agency says there has been a surprising increase in the number of Australians falling behind on their home loan repayments...

Mortgage exit fee ban could hurt homebuyers - Feb 26, 2011
Federal Treasury documents show the Government's plan to ban mortgage exit fees could push up interest rates on home loans and hurt first homebuyers...

Majors can absorb mortgage stress: Fitch - Jan 24, 2011
It is likely that Australia’s major banks could withstand a severe downturn in the domestic mortgage market, although such a downturn is probably not imminent, according to Fitch Ratings...

Home borrowers turn cautious - Jan 11, 2011
Australian home loan borrowers have entered 2011 in a highly cautious mood, according to new data released by Mortgage Choice revealing a significant rise in demand for fixed rate home loans...

Mortgage holders pondering bank switch - Jan 04, 2011
Treasurer Wayne Swan says it is too early to say whether the Federal Government's attempts to boost competition in the banking sector have triggered a move away from the big four banks...

Switching costs hinder bank competition: NAB - Dec 08, 2010
The National Australia Bank argues the costs of switching between or exiting home loan products is the main barrier to competition in the banking sector, not the number of main players...

Banks walking fine line on mortgages - Dec 06, 2010
Australia’s major banks are too reliant on Australian mortgages for their collateral and could face a withdrawal of foreign capital if foreign suppliers believe the property market is becoming unstable, according to the chief investment officer of Wingate Asset Management, Chad Padowitz...

Tough times ahead for city housing markets - Dec 01, 2010
There has been a modest increase in capital city home values in October, but this month's interest rate rise is set to weigh on house prices in the short-term...

Official rates 'at right level for now' - Nov 29, 2010
Homeowners are unlikely to face an interest rate rise next month with Reserve Bank Governor Glenn Stevens indicating the official cash rate will stay on hold for "some time"...

'Low-doc' home borrowers hit by rising rates - Nov 25, 2010
A new report shows a sharp increase in the number of 'low-doc' borrowers struggling to keep up with their mortgage repayments as interest rates rise...

Look to credit unions for home loans: Swan - Nov 22, 2010
Federal Treasurer Wayne Swan has urged Australians to consider credit unions and building societies when looking for a home loan...

Interest rate hike this year still likely - Oct 06, 2010
Most economists still expect an interest rate rise this year despite the Reserve Bank's surprise decision to keep rates steady...

Reserve expected to hold fire - Sep 07, 2010
The Reserve Bank is widely expected to leave the official interest rates on hold today, as it surveys an uncertain global outlook...

Sluggish wages ease pressure on rates - Aug 20, 2010
Slow growth in wages has put pressure on household spending, but is another factor likely to keep interest rates on hold for at least the next few months...

Equity release regulations may be unnecessary: SEQUAL - Aug 11, 2010
In response to the Government’s election promise of greater consumer protection measures for reverse mortgages, the Senior Australians Equity Release Association (SEQUAL) has warned proper regard needs to be given to the industry’s self-regulatory initiatives that already exist...

Weak inflation may extend rates pause - Aug 03, 2010
An unofficial measure of inflation has recorded its weakest growth in several months, which could give the Reserve Bank more breathing space on interest rate rises...

Borrowing stalls on housing slowdown - Aug 02, 2010
Australians took out home loans at the slowest rate on record in June, while the amount of personal borrowing dropped, and there was no change in the amount businesses borrowed...

'No rate hike' on soft inflation numbers - Jul 29, 2010
A surprisingly soft inflation number has all but ruled out the chance of an interest rate hike next week...

Rate rises unlikely to top official move: Citi - Jul 28, 2010
Citibank Australia's chief executive says it is unlikely his bank would have to lift its mortgage rates by more than an official rate rise, if there is one next week...

Election rate rise possible, inflation key - Jul 21, 2010
The Reserve Bank has all but confirmed next week's inflation figures will be the deciding factor in whether it lifts rates in August...

Home loans lift after April lows - Jul 19, 2010
THE housing finance figures for May posted a surprising rise, with the number of loans to owner-occupiers rising by 1...

Expect more rate rises from banks: PIMCO - Jul 15, 2010
The world's biggest bond manager has warned that Australian banks may need to pass higher funding costs on to borrowers, but only two more rate rises were likely from the central bank...

Home loans up for first time in eight months - Jul 13, 2010
A WEAK spot in the property market is showing tentative signs of recovery, after a surprise bounce in new lending to home buyers...

Macquarie launches mortgage product - Jul 13, 2010
Macquarie Bank has launched a new mortgage-based product that is aimed at borrowers who want to use their mortgage as part of their wealth creation strategy...

Rates may rise in August: economists - Jul 07, 2010
Borrowers have avoided an extra squeeze on their finances after the Reserve Bank of Australia (RBA) paused on interest rates for a second consecutive month...

APRA urges banks to top up reverse mortgage cover - Jul 07, 2010
THE bank regulator has urged lenders to keep their levels of capital topped up to cover their exposure to reverse mortgages, cautioning that these loans rank among some of the highest risk...

Six-year wait to save deposit for first home in Sydney - Jul 06, 2010
THE time it takes first home buyers to save a deposit has increased by a year in the past 12 months, according to fresh analysis of census and housing price data, making the average wait for Sydney 6...

Global woes to keep rates steady in July - Jul 05, 2010
Borrowers are set to be spared a rate rise for at least another month with economists tipping the central bank to leave monetary policy unchanged next Tuesday...

Turf battle looms over reverse mortgage advice - Jul 05, 2010
Both the National Information Centre for Retirement Investments (NICRI) and the Senior Australians Equity Release Association of Lenders (SEQUAL) are currently lobbying the Government to fund advice on reverse mortgages, but disagree on one major point...

BT dealer groups step into mortgage advice - Jun 22, 2010
BT-owned dealer groups Securitor and Magnitude are among the latest to formalise a relationship with a mortgage broker as they seek to expand their potential revenue streams and broaden services to clients...

Home loan fee challenge - Jun 16, 2010
NON-BANK lenders may be acting illegally when they charge borrowers exit fees of up to $14,000 for repaying variable rate home loans early, research has found...

Consumers brace for higher rates - Jun 15, 2010
Most homeowners still believe that higher interest rates are on the way, despite the Reserve Bank of Australia (RBA) holding fire on an increase this month and saying rates are now "normal"...

'Financial shock' risk for borrowers - Jun 09, 2010
Australia's record mortgage debt could expose some borrowers to greater ''financial shock'' should interest rates or joblessness rise, a credit ratings agency has warned...

Impartial advice is key - Jun 08, 2010
Customers of some mortgage brokers may not be getting mortgages that are best suited to their needs because some big lenders require brokers to sell a minimum number of their mortgages...

Reserve Bank tipped to show mercy - Jun 08, 2010
Reserve Bank chief Glenn Stevens is tipped to indicate a rate rise pause when he speaks in the heart of outer Sydney's mortgage belt this week...

Rates are on hold, Reserve chief says - Jun 02, 2010
NEW signs have emerged of a slump in home building and consumer spending, and the Reserve Bank has signalled that interest rates will stay on hold for some months...

RBA hints at rate rise pause - May 19, 2010
BORROWERS can expect a reprieve from more interest rate rises in the next few months, analysts say, after the strongest signal yet from the Reserve Bank that lending rates are on hold...

Reserve warns lenders to be prudent - May 19, 2010
The Reserve Bank of Australia (RBA) has warned lenders and borrowers to be prudent while giving an assurance that Australia does not have a speculative housing bubble on its hands...

Demand for home loans dives again - May 13, 2010
Demand for home loans dropped for a sixth straight month in March, suggesting rising interest rates were already biting prior to the last two rate increases...

Banks pounce on interest rate hike - May 05, 2010
The big banks have already moved to pass on in full the Reserve Bank's 25 basis point interest rate rise...

Banks turn loan shy - Apr 27, 2010
First-home buyers and those looking to refinance may find it increasingly difficult to secure a loan as big banks turn to business lending...

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