The Reserve Bank of Australia has forecast that the cash rate will remain at a record-low 2.5 per cent for at least one more year. The board agreed that a period of stable interest rates was the most sensible course of action, according to the minutes of its recent monthly meeting. “In Australia, market expectations […]
Stick to the plan Over spending is one of the biggest dangers in renovating. A savvy home owner will set a ironclad budget and see it through to the end, which some would estimate at 10 % of the property’s purchase price. These amounts can then be broken down room by room. If renovators have […]
Get a Guarantor A guarantor loan enables an existing Australian homeowner, such as your parents, to provide a limited guarantee for your mortgage. The guarantor uses equity in their own property as security for the borrower’s deposit. The primary security for the loan is still the borrower’s new property. Lenders offering these loans also put […]
A credit union is campaigning for clearer home loan rate advertising from lenders, saying very few Australian know how to correctly interpret ‘bank advertisements’ financial content. Consumer research by People’s Choice Credit Union showed 70.4% out of 1520 people surveyed thought bank adverts were ‘confusing’ and 64.7% believed they were ‘clear’. Only a third of […]
The Reserve Bank of Australia has confirmed the popular view that interest rates will remain at record lows for the foreseeable future. The board agreed at its recent monthly meeting(/breaking-news/30318-rba-announces-cash-rate-decision) that the 2.5 per cent cash rate was “likely to be appropriate for some time yet,” according to the minutes released yesterday. That decision was […]
