Home Loans & Mortgages

The Federal Government’s attempt to blame the states for home mortgage interest rate pressures is complete nonsense and smacks of political desperation, the NSW Government says. NSW Treasurer Michael Costa hit back at suggestions the state governments were increasing home loan interest rate pressures through heavy borrowing for infrastructure projects. The Howard Government is bracing itself for [...]

Australian homeowners and renters on hurting over mortgage rates, reduced family support, housing bubble concerns. Home buyers are disinterested.

So perhaps the RBA hinted interest rate rise won’t happen in June, even thought its still likely and we predicted it last month. New facts have emerged since then.

Some economists now say that home loan interest rate rise could push homeowners and renters over the top as mortgage rates for homeowners and landlords would increase the cost of living. It would also make home buyers stay away from the housing market and further add to falling home values. That would have to hurt bank profits.

Australian mortgaged homeowners, those renting and potential home buyers are in the main taking the two home loan interest rate rises that occurred earlier this year in their stride.  Nearly 60 percent of Australia’s homeowners with existing home mortgages said that the higher official interest rates have had little on their weekly budgets and spending habits, according [...]

Three of Australia’s “big four” banks have announced changes to home loan mortgage lending, credit card, business loans and deposit rates after Wednesday’s increase in official rates. ANZ is the latest to move, putting up its standard variable home loan interest rate to 8.32 per cent. The bank says it recognises the increase in official rates [...]

There has been a lot of talk over the last year about the major banks, headed by the Commonwealth Bank, looking for ways to jack up home loan interest rates independent of rate rises by the Reserve Bank of Australia. The major four banks in Australia all posted record profits last year, and want to continue this trend with increasing lending costs since the Government removed its guarantee given to major bank when the Global financial crisis hit.