Following instructions from regulators, banks are set to increase their rates for interest-only home loans in an effort to push more people towards principal and interest loans. If you take out an interest-only loan from a bank, the money you repay only covers the cost of interest – you never actually pay back any of [...]
Who wants more affordable housing? First-home buyers! When do we want it? Now! Well, if you’re hoping to purchase your first home in VIC soon you may just be in luck. The Victorian government have recently revealed new housing affordability measures which clearly favour first-home buyers, while foreign and domestic investors are hit with tighter [...]
After a month where we have seen property prices cooling down in Melbourne and Sydney there was talk of a possible rate cut. However, the Reserve Bank of Australia (RBA) met today for its June RBA rates decision and decided to keep the official cash rate on hold at 1.50 per cent. In their official statement, the [...]
