US Mortgage loan applications improve while Australia booms
06/11/2011 
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Loan application rates of the US and Australia are trending up
In the US improving predictions and mortgage loan applications moving up with new home sales on the rise. Australia is seeing home prices rise again and moves to address the housing shortage.
Australian interest rates increased as the economy in danger of over-heating
Australia had it so good that 6 interest rate hikes in 8 months were necessary to cool the housing market. This brings rates to historically “normal” mortgage interest rate levels. The predictions are that Australia’s unemployment will soon go lower than 5% and that should mean more home buyers entering the market.
Australia’s property market has again improved despite those rate rises and real estate agents are reporting higher prices from sales.
Yes, Australian mortgage loan applications are down, and house sales have fallen slightly, but have now started to rise again.
US Mortgage loan applications are tied to the US economy recovery
In the US mortgage application rates are finally recovering with the new home market spiking up. And with historically low mortgage interest rates many first home buyers are jumping off the fence.
The decision on buying a home can be tough
So being a first time home buyer now must be tough. But with mortgage loan finance at low rates, it won’t be getting easier later.
I guess that life wasn’t meant to easy. But in the Lucky Country it just seems easy no matter what happens.
Author: Rick Adlam Mr Mortgage
Rick Adlam has been helping clients with home loan finance since 1985 when he was home consultant with AV Jennings. Rick started Equity Home Loans in 1996 to help homeowners become property investors. Rick currently consults in the development of Mr Mortgage for mortgage brokers and HomeMate for new home buyers.
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