A wave of rate hikes about to hit brokers. Funding costs and regulatory pressure will drive rates upwards and cut discounts, regardless of today’s RBA call 85% of brokers think there will be further out-of-cycle rate increases, regardless of today’s cash rate decision by the RBA. This was the finding of broker listing site Hashching, […]
The heads of several leading banks, aggregates and industry consultants have said that mortgage brokers, rather than banks, “are the most influential information source for consumers on mortgage products”. The Deloitte Australian Mortgage Report 2017, asked several industry leaders — including representatives from AFG, Bank of Queensland, Commonwealth Bank, eChoice, Homeloans, NAB, Pepper Money, and […]
It is the prospect of interest rate rises that pose the greatest danger to first home buyers, according to one finance expert who believes that current levels of housing affordability are actually not that severe. House prices today are relatively affordable compared to the 1990s, Jamie Alcock, associate professor in the University of Sydney Business […]
Westpac has followed National Australia Bank’s lead and hiked home loan interest rates for both owner occupiers and property investors, Fairfax Media has reported. The major bank announced it would increase rates for owner occupiers by 0.03 percentage points to 5.32% for customers making principal and interest repayments. For owner occupiers making just interest payments, their […]
Digital? When it comes to applying for a mortgage, 76% of Gen Y professionals want to have a face-to-face conversation with a broker or lender. A new report by professional services firm KPMG, entitled Banking on the Future, surveyed over 1,400 professionals in Gen Y (defined as being between 18 and 30 years old). Despite […]