Category: Home Loan
Residential property market shows early signs of recovery with home loan approvals up in September
The national residential property market received some good news recently, with the Australian Bureau of Statistics’ release of its Housing Finance data for September 2011. These figures showed a lift in the number of home loans approved across the country over the month, which could potentially indicate a strengthening of the housing market. According to figures released by the ABS, September saw the total number of owner occupied housing commitments...Read complete post
Housing finance approvals up for August
The Australian Bureau of Statistics last week released data regarding housing finance commitments for the month of August 2011. These are generally considered to be reasonably good indicators of the state of the residential property market as they represent the aim of the population to engage with the housing market, either through the purchase or construction of a dwelling. According to the ABS, the total value of dwellings financed in August rose 1.1 per cent (trend) compared...Read complete post
The mortgage conundrum – fixed or variable?
When the Reserve Bank of Australia elected to keep the official cash rate on hold at 4.75 per cent at the beginning of the month, it was the tenth consecutive month that the same decision had been made and marked the longest period that rates have been on hold for five years. As opposed to being able to enjoy this extended period of steadiness, the market has experienced fairly volatile interest rate expectations, creating uncertainty and likely playing a role in the dampening...Read complete post
Rate rest continues for borrowers in August
Last week saw the Reserve Bank of Australia elect to keep the official cash rate on hold at 4.75 per cent for the eight consecutive meeting, a move which no doubt had home owners and prospective buyers sighing in relief. I am hopeful that the move will help to provide some stability for home buyers and investors in what is otherwise a time of economic uncertainty. While rates have been steady for some time now, it was quite possibly this decision that...Read complete post
Ensure a smooth home loan process
I think we can safely assume that the home loan process is not one that many people go through all that often. It can therefore sometimes present as somewhat confusing. As mortgages are an intrinsic part of buying property, and as a real estate company with a mortgage broking arm (CENTURY 21 Home Loans), my colleagues and I at CENTURY 21 Australia see a large number of people taking out housing finance and try to support our clients wherever possible. To this end, a...Read complete post