Search Mortages – Finance Update

Some interesting new data sheds interesting light on the eternal debate over whether to have a variable or fixed home loan. Reserve Bank of Australia data for August shows owner-occupiers on three-year fixed loans were paying, on average, 1.26 percentage points less than those on the discounted variable rate. However, as the graph shows, these things move…Read More→

Search Mortgages – Finance Update

Fixed Rates Fixed rates are incredibly low at the moment and with Australian borrowers expecting the low interest rates to bottom out, there could be a move to consider fixed rates. The share of borrowers choosing a fixed-rate product remains high at 29.2%.  With 1-4 year fixed rates all being below 2% pa, that percentage…Read More→

Corelogic Home Value Report – November

Australia’s housing market continued along a recovery trend through November. CoreLogic’s national index recorded a second consecutive monthly rise in November, with dwelling values up 0.8% over the month. The new recovery trend follows a 2.1% drop in Australian home values between April and September. According to CoreLogic’s Head of Research, Tim Lawless, if the current…Read More→

CoreLogic Home Value Report

Following five months of consistent declines in residential property values, CoreLogic’s national home value index moved back into positive month-on-month growth through October, posting a 0.4% rise.  The lift in home values was broad based, with every capital city apart from Melbourne posting a rise in values over the month. Index results as at October 31,…Read More→

Search Mortgages Update

It has been announced that responsible lending will be scrapped leading to less onerous credit rules to encourage the flow of loans and boost the economic recovery from the COVID-19 recession. In a shift from “lender beware” back towards traditional “borrower beware”, Treasurer Josh Frydenberg will dump the responsible lending law that was imposed by…Read More→

Search Mortgages Update

Another fortnight has come and gone and the Crows still haven’t won a game (still too raw!).  But the good news is Adelaide has again survived a 2 person outbreak of Covid-19 and our pubs and restaurants are still open.  Hopefully with Spring around the corner we’ll see a rise in home buying, investing and…Read More→

Search Mortgages Update

May saw a substantial drop in new home loan lending across Australia, and you would imagine with Melbourne being in Lockdown that June will also be low. But despite this drop the ABS revealed that refinancing has hit a record high, with external refinancing numbers hitting 29.19 per cent from April to May and 63.10…Read More→

Search Mortgages – Finance Update

Buyers taking advantage of early super access Some buyers are using the $10,000 that they can access (per financial year) as a part of the early release of superannuation funds to put towards their home deposits, enabling them to avoid LMI or just qualify for a loan.  Despite possible penalties, researchers have found that around…Read More→

Finance Update – Search Mortgages

Throughout April we found some potential buyers without recent pre-approval are unable to borrow from some lenders.  Lenders have further tightened their assessment around employment/income and what effect COVID-19 has on each applicant’s position. From an operations perspective, since lenders currently do not require us to meet clients face to face, Search brokers have become…Read More→

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