Home Loans & Mortgages

Big Bank wars tipped on exit fees to favour the mortgage borrower. The National Australia Bank  [NAB] is an also ran in mortgage home loan lending right now and wants to grab a bigger slice of the mortgage lending pie. What better way than to drop your interest rates? Well, they did that last year [...]

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.

RBA will leave mortgage interest rates on hold for the rest of the year. Mr Mortgage predicts that home loan rates will stay as is till at least Feb 2011. That’s if they don’t come down. Here’s my reasoning. One mortgage interest rate rise too many. I said in May 2010 that the last interest [...]

The RBA has new concerns over the average Australian debt level, which dropped last year is is now creeping up due to higher house prices and bigger mortgages and higher interest rates