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Investors rejoice as major banks slash rates on interest

Major banks in Australia gave property investors a reason to rejoice by slashing the rates on interest-only lending. At the beginning of March this year, Commonwealth Bank of Australia (CBA), one of the big four banks, dropped its two-year fixed interest-only rate by 50 basis points to 4.34 percent per annum. Westpac followed suit with… Read More>>

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Commonwealth Bank lifted its cash profit to $2.65 billion for the first-quarter, an increase of 6 percent over the average of the previous two quarters. This enormous figure, much beyond market expectation, can be attributed majorly to lower bad debts and a hike in home loan interest rates for interest-only loans.     It must… Read More>>

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The much-awaited HIE-Colorband Steel Housing 100 Report threw some interesting surprises this year. According to the report, the number of new dwellings commenced in Australia declined by 6.9% in 2016-17. Yet, the number of housing starts by the country’s largest 100 builders increased by 8.5% to 74,572 during the period. The number, in fact, represents… Read More>>

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According to the Perceptions of Housing Affordability Report, 2017 released by CoreLogic recently, 87% of Australian non-property owners are concerned if they would be able to afford their first or next home. The same report also reveals that 62% of the people believe that housing affordability is worse than it was a year ago and… Read More>>

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Budget-2017

Described as a budget for “fairness” by Treasurer Morrison, Tuesday night’s budget brought some relief to first home buyers and a lot of tears to
Australia’s largest five banks that now face a new tax, stronger regulatory bodies and fines up to $200 million for breaching the new rules of… Read More>>

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If you have ever been stung by “surge pricing” while trying to find a late night Uber ride home… you are probably not alone. Paying one and a half or double the standard fare is not an uncommon occurrence -especially during busy times. The question is if this is acceptable for a home loan?… Read More>>

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HashChing is in the news lately and it’s for good reasons. Since our inception a year ago, we’ve saved over 4,650 borrowers a lot of time, hassle and money.
If you were an early bird on Monday morning, you might have seen us on Sunrise (7th of November). This is the video that aired:… Read More>>

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As the RBA brings down the official cash rate to a new low of 1.5% in order to stir up the price growth, home owners and to-be home owners get another reason to rejoice.

Previously, when the RBA had slashed the rates to 1.75%, many banks had passed on the full cut to customers. It cannot be predicted whether the lenders will follow the same route this time, however… Read More>>

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