Interest Rates - Home Loan Help
Source expert help from your local mortgage broker prior to making an offer on any property; your Loan Market mortgage broker has access to every major bank and secure lender in Australia, and can assist you to find an appropriate home loan.
Related News on Interest Rates:
A drop in the number of new home sales in September may cause the RBA to hold off on a 0.50 per cent interest rate rise, and favour a smaller quarter-percentage point rise.
New home sales fell by 4.5 per cent in September 2009 following a strong surge in August, the latest Housing Industry Association (HIA) survey reveals.
HIA’s Chief Economist, Dr Harley Dale said there “was a late burst of sales from first home buyers in August ahead of the step-down in the first home buyers grant.”
“But the stimulus to new home sales from the First Home Owner Boost is ...
read more...
Categories: News. Tags: Home Loan Interest Rates, Interest Rates, Mortgage Rates.
Interest rates have been tipped to rise when the Reserve Bank of Australia meets on Melbourne Cup Day.
Some economists believe interest rates could rise by as much as 50 basis points, after the RBA revealed it was becoming increasingly concerned the economic recovery could stoke inflation.
Minutes from the October RBA board meeting reveal that the surprise 25 basis point increase that pushed the official cash rate up to 3.25 per cent was brought on by worries about inflation.
There was however some descent from one board member, believed to be the Treasury Secretary Dr Ken Henry, who argued ...
read more...
Categories: Home Loans and Mortgages, Interest Rates. Tags: Interest Rates, RBA.
The official cash rate could hit 5.5 per cent by the end of 2011, the National Australia Bank’s (NAB) monthly business survey and economic outlook shows.
NAB has forecast yet another 50 basis point increase before the end of this year, which would mean potential rate rises in November and December.
Interest rates are anticipated to rise after the RBA Governor Glenn Stevens hinted at potential rate rises in the coming months.
Speaking at a financial breakfast in Perth yesterday, Mr Stevens said Australia’s weakest financial period had ‘probably past’.
“Barring another serious international setback, the economy is likely to continue on a ...
read more...
Categories: Home Loans and Mortgages, Interest Rates. Tags: Interest Rates, Variable Mortgage Rates.
Mortgage holders may see another rate rise in November after a shock drop in the country’s unemployment rate put pressure on the Reserve Bank of Australia to raise the official cash rate at its next board meeting.
New figures released by the Australian Bureau of Statistics have revealed the unemployment rate has dropped back to 5.7 percent over September, from 5.8 per cent in the previous month.
The drop took economists by surprise, with most expecting the jobless rate to go up to 6 per cent, as employers hold tight on costs while the economy is in recovery mode.
Economists now believe that ...
read more...
Categories: News. Tags: Interest Rates, Mortgage, Mortgage Repayments.
Australia’s big four banks have all moved to pass on the Reserve Bank of Australia’s 25 basis point increase to their variable rate mortgages.
ANZ was the first of the big banks to pass on the full rate rise, increasing its standard variable mortgage rate for new and existing customers by the full 25 basis points from October 12, bringing the rate to 6.06 per cent.
This move was closely followed by an announcement from the National Australia Bank and the Commonwealth Bank, and finally Westpac at 4:30pm yesterday afternoon.
CBA and NAB will both retain the lowest variable mortgage rate of ...
read more...
Categories: News. Tags: Interest Rates, Standard Variable Mortgage, Variable Mortgage Rates.
The housing industry has expressed concern over the Reserve Bank of Australia's move to lift the official cash rate by 25 basis points to 3.25 per cent, at it's board meeting today.
In a statement released shortly after the move, the Reserve Bank Governor Glenn Stevens said that housing credit has been solid and dwelling prices over the last six months had continued to rise.
The rate rise which is the first since March 2008, makes the Reserve Bank the first central bank in the G20 to raise interest rates in the wake of the global financial crisis.
“In late 2008 and early ...
read more...
Categories: Home Loans and Mortgages, Interest Rates. Tags: Home Loan Interest Rates, Interest Rates, Mortgage Rates.
Low interest rates and the increased first home buyers grant has led to an increase in the number of Australians taking out mortgages, a new consumer credit survey has found.
A Veda Advantage survey on consumer credit found that there was a 28 per cent rise in applications for home loans in the year to 30 June.
Veda Advantage general manager Russell Evans said Australians’ appetite for mortgage finance has peaked in recent months.
"Veda's measure of mortgage inquiry growth and volumes for the June quarter 2009 is higher than at any time in the past five years,” Mr Evans said.
“ ...
read more...
Categories: Home Loans and Mortgages. Tags: First Home Buyers Grant, Interest Rates.
Financial markets have tipped an interest rate rise as soon as next month after the economy reported better than expected growth figures in the June quarter.
The economy grew 0.6 per cent last quarter, beating expectations of a sluggish growth of only 0.2 per cent.
The positive result now means the economy has recorded two quarters of positive growth, after a contraction in the December quarter of 2008.
On the back of the positive growth, financial markets moved swiftly today to price in the greater risk of a rate rise as soon as next month.
The interbank financial markets predict there is about a ...
read more...
Categories: Banking and Finance, Home Loans and Mortgages, Interest Rates. Tags: Interest Rates, RBA, RBA Rate Cuts.
There were no surprises at today's Reserve Bank board meeting that left interest rates steady at 3 per cent.
Economists had widely tipped that interest rates would remain on hold, as the local global economies remained in recovery mode.
In a statement released after the meeting, RBA Governor Glenn Stevens said that major economies appear to be approaching a turning point, but the economic growth in 2010 will still be slow.
Mr Stevens also said that consumer spending, exports and business investment have been strong in Australia, but probably due to Government initiatives and therefore may not hold over the coming months.
He believes ...
read more...
Categories: Home Loans and Mortgages, Interest Rates. Tags: Interest Rates, Investment Loans, Property Finance, RBA.
While interest rates are expected to remain on hold when the Reserve Bank (RBA) meets next week, economists are divided on when the central bank will start winding back the rate cuts made over the last year.
All 18 economists surveyed by AAP this week believe the RBA will keep the cash rate at a 49-year low of 3 per cent at their board meeting next Tuesday.
There were however, differences in opinion as to when and how quickly interest rates would start to move up.
Nomura Australia chief economist Stephen Roberts expects the first rate hike to come in May 2010.
Mr Roberts ...
read more...
Categories: Home Loans and Mortgages, Interest Rates. Tags: First Home Buyers Grant, Interest Rates.
Further cuts to the official cash rate are unlikely, minutes from the August Reserve Bank meeting, released today, indicate.
An improved economic outlook, coupled with the swift moves by the Reserve Bank over the late 2008/ early 2009 period make the prospect of further interest rate cuts unlikely.
While RBA Governor Glenn Stevens has himself refused to comment on when the next upward movement in interest rates will occur, some economists have suggested that interest rates could increase as early as November.
On the other end of the spectrum, some economists have predicted that interest rates will remain on hold into 2010.
Regardless ...
read more...
Categories: Home Loans and Mortgages. Tags: Interest Rates, Mortgage Brokers, Mortgage Repayments.
The Reserve Bank of Australia has urged homeowners to prepare for an interest rate rise as a return to growth begins to look more likely than a recession.
The central banks announced yesterday that it would leave official interest rates at 3 per cent for the fourth consecutive month.
But this time, in its accompanying monetary policy statement, it removed references to the scope for "further easing if needed".
In a shift from an easing to a neutral bias, RBA governor Glenn Stevens indicated the chance of a severe recession hitting Australia had diminished.
"Economic conditions in Australia have been stronger ...
read more...
Categories: Interest Rates. Tags: Interest Rates, RBA.
There were no surprises today as the Reserve Bank of Australia left interest rates on hold at 3 per cent for the fourth consecutive month.
Citing tentative signs that the US economy was approaching a turning point and the strong growth of the Chinese economy, the RBA said the global economy was stabilising after an earlier sharp fall in demand.
Financial markets had widely tipped that the RBA would leave interest rates on hold with less than 5 per cent chance that there would be a downward movement.
The futures market is pricing that there could be more than five interest rate increases ...
read more...
Categories: Home Loans and Mortgages, Interest Rates. Tags: Interest Rates, RBA.
Australians are feeling cautiously confident in their ability to service debt as falling interest rates take affect, according to the Genworth Financial (Genworth) 2009 Mortgage Trends Report.
Genworth surveyed 2,000 consumers during April and May on their attitudes to mortgage and property markets for its annual mortgage trends report.
The 2009 report found that 17% of borrowers struggled to meet their mortgage repayments in the last 12 months, down from 2008's figure of 23%. The majority (51%) cited higher living costs and other debt obligations (26%) as the primary reasons for hardship.
As more Australians comfortably meet their mortgage repayments due ...
read more...
Categories: Home Loans and Mortgages, News. Tags: Interest Rates, Mortgage, Mortgage Repayments.
The Reserve Bank of Australia says there is scope to cut interest rates further if it is needed to give further support to demand at a later stage.
According to the minutes of the RBA board's July 7 policy meeting, released today, the early and substantial interest rate cuts and government stimulus had been effective in supporting demand.
The minutes highlighted that "most indicators for the housing market suggested that demand in that sector was picking up. Housing loan approvals had recorded a strong increase, and house prices were again picking up, with the rises becoming more widespread."
The RBA ...
read more...
Categories: Home Loans and Mortgages, Interest Rates. Tags: Housing Loan, Interest Rates, RBA Rate Cuts.
The number of mortgage holders switching to fixed home loan rates is on the rise as home owners spooked by the prospect that interest rates may have bottomed out and could rise, make the switch.
But although the number of fixed-rate loans hit a 10-month high in May, mortgage experts believe people are not panicking and it's too early to tell if the Reserve Bank of Australia (RBA) has finished cutting rates.
ABS data shows that fixed-rate home loans rose in May to account for 6.5 per cent of the home loan market, up from 4.2 per cent ...
read more...
Categories: Home Loans and Mortgages. Tags: Fixed Home Loan Rates, Fixed Rate Loans, Home Loan Interest Rates, Interest Rates.
The Reserve Bank of Australia has today left interest rates unchanged for the third consecutive month.
Prior to the decision, economists had tipped interest rates to remain on hold following minutes from its June meeting that revealed the board did not see any pressing reason for a further interest rate reduction.
Despite interest rates remaining steady since April, there is still some conjecture as to the direction rates will go in the months ahead with some economists predicting further reductions and others warning of inevitable rises.
At its board meeting this afternoon, the RBA said the downside risk to the global economic ...
read more...
Categories: Interest Rates. Tags: Interest Rates, Investment Loans, Mortgage Rates, Property Finance, RBA.
Borrowers may have a long wait before the RBA delivers further interest rate cuts, as the central bank maintains a watchful eye on early signs of an economic recovery.
Minutes from the May 5 RBA board meeting showed that the choice came down to either easing monetary policy or keeping interest rates on hold "pending further information on how economic and financial conditions were unfolding."
The RBA decided to leave interest rates unchanged at a 49-year low of 3 per cent.
In assessing the need for further interest rate cuts, the RBA indicated that they "would continue to monitor the strength and durability of ...
read more...
Categories: Interest Rates. Tags: cash rate, Interest Rates, RBA.
View stories similar to: Interest Rates
Search for:
