Home Loans & Mortgages

The Reserve Bank is ready to pull the trigger on interest rates. Inflation is getting a bit on the high side and unemployment looks like falling even lower, so the RBA will feel compelled to raise rates. However if the CBA and other baks follow suit, then they will have done the RBA’s job, and official rates could remain as they are for now.

First home buyers increase mortgage home loan approvals 10% as first home buyers grab home buying bargains.

Being turned off by credit problems that are easily fixed
Credit is getting harder to get for all applicants and especially for credit impaired. If you are a first home buyer and have credit impairment, you will need a bigger saved deposit and strong present income as a given. You may also be better off using a mortgage broker to get the loans that suits your credit profile. Obviously if the mortgage broker knows this profile it will make their job so much easier.

Don’t buy a new home as your first home.
If you were buying a home 10 years ago, this would not make sense. But things are different today. Land prices are killing new home sales and only people that have made equity in the first home can build new today.

So my first advice to you is to buy a bargain established home. There are plenty to choose from and they are below replacement cost. You get more for less, and in less time.

As Victoria’s housing  values have plummeted about $40 billion in the past six months, we need to ask why it is such a bad thing. Afterall the Sharemarket has corrections all the time, so why do we expect the real estate values to climb relentlessly without having the same laws of the market apply.  Let’s [...]