Home Loans & Mortgages

Uptake of fixed interest rate home loans have fallen to the lowest rate in almost two years, but may rise again as fears escalate of an increase in interest rates. Australian Finance Group (AFG) general manager of sales and operations Mark Hewitt said a decline in fixed rate mortgages in July indicated property buyers were not [...]

Westpac chief executive, Gail Kelly is not happy with Government plans to ensure that all Australians are free to move their mortgages, and has hit out at moves by the federal government to ban exit fees on home loans from July this year.
She claims that the forced abolition of the mortgage exit fees would in fact make it harder for smaller lenders to compete in the home loan market, without explaining why, and why she should care about Westpac’s competitors in the first place!

A recovering jobs market could be the trigger an interest-rate rise next month, or use tightening credit standards to curb housing demand.