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Your Mortgage – Page 129

Recent articles for this author

Much ado about nothing - negative equity no concern

Reading the papers this week, you may be concerned that a nail has been hammered into a coffin containing the Great Australian Dream of home ownership. Property market commentators, in their analysis of the (as yet unknown) impact of recent interest rate rises, are painting a disturbing picture. Combined with sluggish house prices and debt levels, the latest fear is that increasing numbers of homeowners are now facing the prospect of negative equity - your mortgage being higher than any equity you have built up in your property since you purchased it.

26 Sep, 2006

Rise in lending for new homes and new buyers

Residential building might be in slowdown for New South Wales and Tasmania but there is a bright outlook for other states, especially Western Australia, according to figures from economic forecasters BIS Shrapnel. Financing figures may, on first glance, seem relatively flat, but this is due to an intriguing glitch in the numbers - while loans for 'off the plan' properties have not grown, lending for new homes already erected has jumped by 28%.

19 Sep, 2006

Construction back in action

The construction industry is back in action as building approvals rise for the first time in three years, with units largely behind the increase. Figures released by the Australian Bureau of Statistics for the month of July showed an 8.3% increase in total dwelling units, and a 4.9% rise in private sector houses.

12 Sep, 2006

Interest rates: How to take on a rate rise – and win

It may seem like the time to fix has passed you by, but you could still benefit from making the switch now to preset your repayments should there be another rate rise.

30 Aug, 2006

Rates: are bananas to blame?

A rare moment of accord struck economists and other property market observers in light of the Reserve Bank's decision to lift interest rates by 0.25%. For once, everybody agreed that there would be a rate rise. And even more uniquely, they all got it right.

08 Aug, 2006

Rate hike fear sparks fixed loan rush

With inflation numbers jumping to a five-year high of 4% in the year to June, speculations are rife that an interest rate hike is in store for next week's RBA meeting. Already, some borrowers are rushing taking preemptive actions to cushion the impact of a higher rate. Non-bank lender Resi Mortgage Corporation says that interest in its cut-rate fixed/variable loan as well as in normal fixed loans has picked up significantly following speculations of an interest rate rise.

01 Aug, 2006

Working through the web of buying your first home

First homebuyers are starting to trickle back into the market despite rising interest rates and soaring fuel prices. With an estimated 18% of all homes purchased by first homebuyers, lenders and mortgage service providers are racing to cater to this growing sector. To this end, IMB Banking and Financial Services is launching an online service to help first homebuyers navigate the stressful process. The website www.firsthomefriend.com.au features an easy-to-understand guide on how to buy your first property as well as tips and checklist on how to conduct an extensive research before buying. It also features advice on how to find and select the best loan options.

01 Aug, 2006

Interest rate concerns cloud ABS figures

The May housing finance figures from the Australian Bureau of Statistics (ABS) have provided an encouraging outlook for the housing market, tinged with just a touch of hesitation regarding future interest rate rises. The ABS figures indicate that the total value of dwelling finance commitments increased by 4.5% compared with April 2006. The number of loans for the purchase of new dwellings rose by 5.6% over the month, to sit 31% higher than the same time last year. Likewise, the number of loans for the purchase of established dwellings rose by 5% in May - a 15% increase over last year.

18 Jul, 2006

Need a loan? Time to wise up!

Prospective borrowers are in need of education - a third of all consumers shopping for a mortgage don't know how the home loan process works, according to Mortgage Choice. In an annual survey of Mortgage Choice loan consultants, only one quarter of borrowers were considered well informed about what is involved in taking out a mortgage.

04 Jul, 2006

Data providers split hairs over RBA report

Leading providers of house price data Australian Property Monitors and Residex are waging a war of words in response to the Reserve Bank of Australia's release of two discussion papers last Wednesday. The point of contention between the two number crunchers is whose method of calculating house price data is preferable to the RBA. APM, in its weekly newsletter, informed readers that its approach to calculating median prices had been endorsed in the RBA's reports.

06 Jun, 2006

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