In the ever-evolving landscape of the mortgage industry, staying informed about the latest developments can feel like a full-time job. But don’t worry – we’ve got you covered. Here’s your daily roundup of the most important news and insights from the Australian mortgage market, helping you to make informed decisions about your home loan.
Interest Rates on the Move
Following the RBA’s recent cash rate hike1, all of Australia’s big four banks have increased their home loan rates2. This move has significant implications for Australian homeowners, many of whom will see an increase in their mortgage repayments. Now may be an ideal time to review your loan terms or consider refinancing to find a better deal.
This move has significant implications for Australian homeowners, many of whom will see an increase in their mortgage repayments.
Reuters
Government Incentives for First Home Buyers
The Australian government has introduced several incentives to help first home buyers get onto the property ladder. These include the First Home Loan Deposit Scheme (FHLDS) and the Family Home Guarantee3. If you’re a first home buyer, these schemes could potentially save you thousands of dollars.
Housing Market Trends
Housing prices across Australia continue to rise, with the median house price in Sydney surpassing $1 million for the first time4. However, experts predict a slowdown in price growth in 2024 due to tighter lending standards and higher interest rates5.
The Rise of Green Mortgages
An increasing number of Australian lenders are offering ‘green’ mortgages, which provide lower interest rates for homes that meet certain environmental sustainability criteria6. If you’re considering buying or building a green home, these loans could potentially save you money while also helping the environment.
Staying informed about the latest developments in the mortgage lending industry can help you make the best decisions about your home loan. Keep an eye on our website for daily updates and valuable market insights.
