Forget the Melbourne Cup. It may be the race that stops the nation, but nowadays it’s more the rate that can stop the nation. On the first Tuesday of every month (with the exception of January), the Reserve Bank of Australia determines whether interest rates will go up, down, or stay the same. As 2.30pm More…
Ten questions you should ask your lender
Ten questions you should ask your lender
March 23, 2010 By Jim Rice 0 Comments (Edit)
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By Hannah Nicholas
When it comes to home loans, there’s so much for borrowers to know. But choosing the right lender and home loan really can save you thousands of dollars. Here are the 10 must-ask questions every borrower should ask a potential lender.
Managing your mortgage when baby comes
The promise of the pitter patter of little feet is a wonderful and exciting thing for expecting parents. The often-accompanying ringing of cash registers – not so much. A study in 2002 by NATSEM (National Centre for Social and Economic Modelling) revealed at that time, that the cost of raising a child from birth to More…
Interest Rate Pain Relief
A lot of people are disappointed that the official cash interest rate rose by 25 basis points earlier this month. It was somewhat expected, but that’s no consolation to those feeling the pinch as their banks increase their mortgage interest rates by the same 0.25 percent margin. Unfortunately, we expect that rates could rise another More…
Turn your home into a duplex – how granny flats have grown up
Granny flats are no longer just for Granny. They also work for older kids who need their own space, parents that need their own space, or those that could do with some rental income from a paying tenant. With interest rates expected to rise, median property prices up around 12 per cent over the last More…
The cold, hard truth about interest rates
Interest rates are arguably the most important issue facing Australian homeowners. However there is much confusion about who controls interest rates, what factors influence rates and how this affects mortgage repayments. Does Wayne Swan control interest rates? No Wayne Swan does not control interest rates. Nor does Tony Abbott. So who does? The cash interest More…
How easy (or hard) is it to refinance?
With the prospect of interest rate rises in 2010, it’s no wonder there is much chatter in the media – and at the weekend barbeque – about refinancing home loans to get a better deal. But what’s involved? And is it really worth the effort? Easier than you think “I don’t think it’s as hard More…
Interest-ing Times: Are you expecting a rate change this time around?
Around this time last month, there was a lot of buzz around about interest rates, with many expecting the Reserve Bank of Australia to increase the cash rate by at least a quarter of a percent.
How much can I save by switching home loans?
If, like for many Australians, the recent interest rate rises have inspired you to do some financial soul-searching, you may be considering switching your home loan. It warrants a lot of careful research, but as the numbers show, it is possible to save big. “There’s a fair range of over one per cent difference between More…
Surprise relief for homeowners, as Reserve Bank holds interest rates
The Reserve Bank of Australia has kept interest rates on hold at 3.75 percent this week, delivering surprise relief for cash-strapped homeowners.