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What to do if you are experiencing difficulty meeting your mortgage repayments

Rocco Reitano — Tue, 12 Feb 2008 00:00:00 +0100

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 .25% Reserve Bank increase.

Most analysts are tipping another hike of 25 basis poi [...]

Home Loan Enquiries

Suzanne Finlay — Tue, 12 Feb 2008 00:00:00 +0100

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 better home loan choices. Whether it’s a variable rate, fixed rate, offset or split loan, the loan [...]

To Refinance or Not to Refinance �That is the question

Vicky Edema — Mon, 21 Jan 2008 00:00:00 +0100

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 interest rates than the non-bank mortgage managers.

As a result many [...]

Mortgage Rates Stress

Vicky Edema — Tue, 08 Jan 2008 00:00:00 +0100

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 the Reserve Bank of Australia, which again will have a flow [...]