Australians used a mortgage broker for 69.5% of all new residential home loans in the March 2022 quarter, according to the latest data from Comparator. This represents a record market share for mortgage brokers. By contrast, Australians went directly to a lender for only 30.5% of new mortgages in the same quarter. The latest data…
Read more
The recent increase to 0.35% in the Reserve Bank’s target cash rate has changed the mood of many homeowners who have a variable interest rate with their lenders. The question now beckons whether to move to a fixed-rate loan as protection from future interest rate increases, which most commentators agree are inevitable to fight spiralling…
Read more
Struggling supply chains have caused a fall in car sales, signalling the need for buyers to plan well ahead to organise finance and order their next vehicle. Some 12.2% fewer vehicles were sold in April compared with the corresponding period last year, according to the latest data. The Federal Chamber of Automotive Industries (FCAI) says…
Read more
Fast-rising rents and subdued prices have opened the door to investors seeking to start a portfolio or return to the property sector after many sold to reap the profits when values hit their peak last year. New rental listings have fallen 12.2% to their lowest level since 2003, and total supply in March was down…
Read more
When you work for yourself, you may pay yourself a consistent income, but, more likely, your earnings fluctuate month to month. You may have experience managing your personal cash flow to accommodate this, however lenders tend to look for stability and a track record of making ends meet. So, if you are self-employed and want…
Read more
The skyrocketing price of petrol – despite the federal government giving up 22c a litre in fuel tax to ease our economic pain – has increased the interest in purchasing one of the many electric vehicles (EVs) coming on to the market in Australia. However, despite the gains, sales of EVs still remain low, with…
Read more
Australians have been warned of fast-rising building and renovation costs and urged to re-evaluate their insurance coverage as near double-digit inflation strikes the building industry. Construction costs jumped 9% in the year to March, according to the latest figures from CoreLogic, a leading real estate researcher. This is the steepest jump in building material costs…
Read more
The economy continues to go from strength to strength across every sector monitored by the Australian Bureau of Statistics (ABS). Business revenue turnover in February increased in all 13 industries studied by the ABS, providing evidence that the economy is returning to pre-COVID levels. The result is promising for economic confidence as Australia also continues…
Read more
Applying for a home loan can be a confronting experience, whether you’re a first-time buyer or even if you’ve purchased before. There are a lot of moving parts and the very real prospect that your loan can be rejected if there are errors in your application. As mortgage brokers, we help clients navigate the labyrinth…
Read more
The big four banks are all now predicting the cash rate will start rising as early as June with some economists predicting the official rate could go as high as 3% over the next few years. The cash rate is a number the Reserve Bank of Australia sets that indicates the interest that banks or…
Read more
