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These days, a lot is said and written about the first home Buyer. Most lending institutions provide detailed information for the first home Buyer that practically take them every step of the way to purchasing their first home. That said, whilst the “journey” as such, for the first home buyer has been made a somewhat less complicated and perhaps daunting experience, there remains two critical
Hundreds of thousands of Australians are bracing for more mortgage pain following the Reserve Bank’s decision to lift official interest rates by another .25% p.a. in February. Commonwealth Bank borrowers will experience the additional pain of a further .05% increase as the bank has alerted the market that it will be increasing its rates on standard loans by .30 as opposed to simply passing on the
The process of shopping around for home loans and comparing the different rates and costs offered by lenders and mortgage managers, has been made easier with the help of web search engines and loan calculators. Borrowers are actively using these search engines and calculators to access loan features and costs. These resourceful tools provide a wealth of knowledge and enable borrowers to make
Refinancing your mortgage can be a very daunting experience. Am I doing the right thing? Will I recoup the costs involved in the refinance? Am I better off with a lower rate or lower fees? Will the financial institution I refinance with be accommodating and provide ongoing support? These are all questions you need to ask when thinking about a refinance.
The most common reason to refinance a home
To refinance or not to refinance – that is the question. In the current upward interest rate cycle it is natural that home loan borrowers may seek relief from the cash flow pressures caused by increased mortgage repayments. Whether or not relief can be obtained by refinancing their loan with a different lender needs to be carefully analysed and evaluated as any benefits gained can be swiftly
Should I finance in the current interest rate environment?
The number of borrowers looking to refinance their home loans has increased over the past six months because of the uncertainty of interest rates in Australia. Currently the Reserve Banks' Official Cash Rate (OCR) is at an 11 year high. Interest rates have increased in Australia for both international and national reasons, and all
There is supposedly a lot of refinancing of home loans going on at the moment mainly prompted by early media reports on the claims by banks that they were some how unaffected by rising interest rates resulting from the credit squeeze in the US.
The banks’ initial claims that they had little if any exposure to the problems in the US resulted in borrowers perceiving them to be a safer bet on
A mortgage calculator is a great help when someone needs to find out how much he can borrow. This is quite often is a complex and at times daunting task for a lot of people as they do not always know what criteria the lender applies when calculating serviceability. Another mortgage calculator that is often worthwhile checking out is the comparison mortgage calculator – this is invaluable when
The number of households suffering "mortgage rates stress" may double within six to 12 months - sending tens of thousands bankrupt – as all lenders are forced to increase mortgage rates in response to the global credit crisis.
Mortgage rates are predicted to jump by as much as 1 percentage point on some loans and up to 20 basis points on most standard mortgages.
This is on top of any movements by
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