Articles

Despite the recent housing downturn, property prices are higher in most parts of the country than before the pandemic. As a result, deposit requirements are higher. Domain compared property prices in the December quarters of 2019 and 2022, and found that buyers need tens of thousands of dollars more today if they want to buy […]

Debt consolidation is a financial strategy that involves combining multiple debts into a single, larger loan with the goal of reducing overall interest costs and simplifying debt repayment. There are several different types of debt consolidation options available, including: Balance transfers: This involves transferring multiple high-interest credit card balances to a single credit card with […]

What are the Pros and Cons of Interest Only and Principal & Interest Home Loans? Interest-Only home loans (IO) and Principal and Interest home loans (P&I) are two common types of mortgage repayment options. Both have their own set of advantages and disadvantages, and the right choice for you will depend on your financial situation […]

What is a credit score and why is it important? A credit score is a numerical representation of an individual’s creditworthiness. It is calculated based on an individual’s credit history, including things like their payment history, outstanding debts, and the types of credit they have used. A credit score is important because it is often […]

When searching for the perfect home for your family, it’s important to take the following steps to ensure you find the right fit: Research your desired location. Look at crime rates, school districts, and proximity to amenities like grocery stores and parks. Determine your budget and make a list of must-haves. This will help narrow […]

An ever-growing majority of consumers are taking out home loans via mortgage brokers, rather than going direct-to-lender. Between July and September 2022, mortgage brokers facilitated 71.7% of all new residential home loans – a record share – according to research group Comparator. That compared to 66.9% the year before and 60.1% the year before that. […]

Very few borrowers are currently fixing their home loans – unlike a year earlier when about half of borrowers were doing so. In October 2022, the most recent month for which we have data, only 4% of borrowers fixed their loans (both new loans and refinances), according to the Australian Bureau of Statistics. By contrast, […]

The latest data from the Australian Bureau of Statistics has revealed that enormous numbers of borrowers are refinancing their home loans. Australians refinanced $17.8 billion of mortgages in October – not far off the record $18.6 billion of refinancing that occurred in August. Indeed, the past six months have been the six biggest months in […]