Home Loans & Mortgages

Australia’s Federal Labor Government plan to enter the home loan mortgage finance business will boost confidence in the non-bank mortgage sector and increase competition. Treasurer Wayne Swan said he will initialling invest $4 billion to revive the non-bank mortgage market and get the banks honest to pass on future rate cuts in full. Mr Mortgage hopes that [...]

Those that are in a position to buy right now, need to shop around and drive a hard bargain. There will be plenty out there right now. Remember what seems cheap now may seem too dear if prices drop further as they have done in the UK and the US recently. Cash is King in this housing market.

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 [...]

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 [...]

The deposit guarantee enjoyed by Australia’s banks for their customers deposits ended last year after comments by Reserve Bank of Australia’s [RBA] Governor Glenn Stevens were heeded.
Australia’s mortgage home loan finance costs were probably lowered as a result of the Government guarantee, and desposit customers concerned about any banks strength would have otherwise fled to other banks overseas that issued guarantees.