As financial markets get ever more gloomy in their outlook for the economy, it is leading to lower borrowing costs for home loan customers who are prepared to lock in an interest rate.
Figures from Mozo, a comparison website, show the most cuts have been made in two and three-year fixed loans, but there have also been significant cuts in longer terms of four and five years. At first glance, those rates look cheap. They are lower than what most banks offer in their variable rate loans.Just months before the global financial crisis struck in 2008, the proportion of people fixing reached a peak of more than 25 per cent.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
RBA to take climate change into account when setting interest ratesThe Reserve Bank has warned the challenges of climate change threaten Australia's financial stability. Instead of blaming unicorns for your shortcomings, why not just fess up and admit, the years of unregulated, reckless abandon by the banks, and their buddies in government have led to the biggest debt bubble in history. The Earth's climate doesn't gamble on Wall Street.
Source: SBSNews - 🏆 3. / 89 Read more »
Mortgage broker debate is everything that is wrong with our democracyAustralians deserve mortgage brokers who are incentivised to not only ferret out the cheapest loan for potential borrowers, but also encourage them to adopt a prudent attitude to debt. Jess_Irvine A few flawed assumptions in your position Hayne is not an expert The greater beneficiary of the position he advocated were the banks.A wholly illogical position given the brief. He gave too much weight to CALC etc and we have now a grab bag of overseas models. Not good enough. Jess_Irvine The Triumph of the Rent Seekers ScottMorrisonMP Jess_Irvine Mortgage Brokers are rip off merchants,Frydenberg is a liar and will do his best to protect them. Never ever go to a Mortgage Broker for a Loan. go straight to the bank or lending institution yourself.
Source: smh - 🏆 6. / 80 Read more »
CBA puts wealth, mortgage broking spin-off on backburnerCBA says it has suspended preparations for the demerger of its wealth management and mortgage broking businesses in order to focus on implementing the recommendations of the royal commission. as trailing comm is allowed by LNP gov they want to keep fin planning The same greed inducing trailing comm would make lots of profit using other peoples' money
Source: smh - 🏆 6. / 80 Read more »
How climate change will affect your mortgageAustralia's central bank is already adjusting interest rates with a mind to climate-related trends. But policy uncertainty is making its job more difficult. Jess_Irvine We can’t accurately predict the weather for the coming week. Jam your climate change propaganda where the sun don’t shine** **pun intended Jess_Irvine How come Sydney manages to weave mortgages and the cost of housing into EVERY social issue...now climate change, too? Why not just worry about climate change for the sake of climate change alone...not just whether your mtge payments will go up? Jess_Irvine Lefties & their climate change obsession
Source: smh - 🏆 6. / 80 Read more »