Rates rise but opportunity exists for savvy borrowers

Probably the safest bet that anyone could have placed on Melbourne Cup Day was on the rate rise by the Reserve Bank. As expected by most people, the Reserve Bank of Australia increased their interested rate – this time by 25 basis points. With this rate rise, the new official cash rate is now 3.5 percent.

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Looking for home loan specials?

What are home loan specials?

Home loan specials can be considered as promotional offers or packages that applicants could avail when applying for home loans. Although offered by most financial institutions, not all lenders have home loan specials.

Because of the big impact of home loans on the financial situation of applicants, banks and financial institutions have crafted a way by which people could get the best deals when it comes to such loans. Thus, the birth of home loan specials. Read More »

New housing boom set to go through the roof

(source: Sydney Morning Herald)

As New South Wales recorded its lowest figures for construction of new homes, developers have predicted the worst is over and the state is on the verge of a housing boom.

Bureau of Statistics data for the three months to March showed the number of new housing starts has fallen to 5400, down from 7500 in the same period last year and 11,000 five years ago. Read More »

Westpac, NAB hike fixed rates

Commonwealth Bank is not the only one to increase is interest rate.  Another two major banks, Westpac and NAB have increased their fixed rate mortgages yesterday.

Effective today, Westpac’s fixed rate loans will rise by between 10 and 50 basis points. The hike will take its three year fixed rate mortgage to 6.59 per cent – just 10 basis points behind CBA, who pushed up its fixed rates yesterday. Read More »