Home Loans & Mortgages

Kevin.Rudd’s increase of the first home owners grant is about shoring up jobs and the economy, and increasing home loan activity for buyers and sellers.

It is beginning to look like Australia will dodge the recession bullet. Australians’ confidence in the future have risen its best level in nearly two years, as home buyers and homeowners grew more optimistic about an early economic recovery. A predicted slide in house values hasn’t happened, and in many parts of the economy its business as usual.

The banks have been tightening their credit guidelines on home buyers for over the last year and this is stangling building companies cashflow and construction activity slowed for the 11th month straight.

Accumulative home loan mortgage interest rate rises, coupled with higher home prices around Australia have pushed housing affordability to its lowest level on record. The Commonwealth Bank of Australia – Housing Industry Association (HIA) Quarterly Review of Housing Affordability for the September quarter showed the index falling 2.1 per cent to be 8.3 per cent lower [...]

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