Understanding loan features is crucial because they can influence not only your monthly payments but also your ability to pay off the loan early or manage financial challenges throughout the life of the mortgage.
The official cash rate remains at 4.35%, where it has been since the RBA last increased rates in November 2023.
With the June quarter data showing inflation continues to shift downwards, those of us watching closely might hope it’s enough to encourage the RBA to take rate hikes off the table but there’s still enough uncertainty to have commentators debating.
Many Australian homeowners fall into the “set and forget” trap with their home loans. However, this can lead to overpaying due to the “loyalty tax.”
Loan documentation can be overwhelming, so learning some basic concepts is important to get you started.
Mark Bouris is calling on state and federal governments to make changes to fix the housing crisis.
Many homebuyers ask their broker, “What is the lowest interest rate out there?”. While it’s a valid inquiry, it may not be the right question. Rather than focusing only on the interest rate, it’s also important to consider your financial circumstances.
The RBA has once again left interest rates on hold, with the cash rate sitting at 4.35%.
Even if the average Australian has tightened their belts considerably there are still many out there with plenty to spend and the data is showing it.
