Home Loans & Mortgages

First time home buyers are suddenly given two choices to move to buy or build their first homes. First home buyers will be eligible for grants of up to $21,000 designed to stimulate housing activity in new home construction, construction loans and home finance generally. The scheme will be time limited. All new home contracts entered into by [...]

Australia’s first home buyers get a $14,000 First Home Owners Grant, and $21,000 for first time buyers that build new home. In some states that can be more. Are these grants really pushing up home prices? Well apparently two out of three of Australians believe the Federal Government’s first home owners grant is in fact [...]

Reserve Bank of Australia [RBA] raised mortgage interest rates by 25 basis points to bring the official cash interest rate to 4.0 percent The Reserve Bank of Australia raised mortgage interest rates by 25 basis points to bring the official cash rate to 4.0 percent pa.

In that article I have suggested that Interest rates rises concerns for Australian home buyers and homeowners need to be addressed by the RBA and the Government about bank policies in relaxed lending.

There is evidence that any mortgage rate increase will lead to mortgage stress for a lot of homeowners who has overcommitted of mortgage finance, either recently, or by buying at the top of the real estate market.