Not sure what refinancing is all about? You’re not alone. Our quick explainer lets you master the basics and helps you work out how much you could save. Home loan refinancing is a hot topic right now. Ever since interest rates hit an upward trajectory in May 2022, skyrocketing numbers of homeowners – as many as 28,000 each month – have turned their attention to refinancing. However, plenty of Australians could be missing out on the savings of refinancing simply because they’re unsure of what’s involved. Research by Finder shows one-in-five people are in the dark about refinancing, while 63% admit to being only

Know anyone who wants to buy their first home? A new report confirms that low deposit schemes are getting younger buyers into a place of their own sooner. First home buyers are ignoring headlines warning that it can take years to save a deposit. Instead, they’re flocking to guarantee schemes that allow them to get into the market with just a 5% deposit – and without the cost of lenders’ mortgage insurance (LMI). NHFIC, which runs the First Home Guarantee schemes set up by the federal government, says that in 2022/23, close to one-in-three first home buyers tapped into the guarantee schemes. That’s up

Property prices have soared almost 7% this year alone. With the upswing predicted to continue, we unpack what’s driving national housing values higher – and why it could pay to get into the market sooner. Another month, another round of price upticks. September marked the eighth consecutive month of home price growth, with CoreLogic saying property values nationally are up 6.6% since January. That’s a solid price hike. The crazy thing is that prices are soaring despite a whole slew of interest rate hikes over the past 18 months. So what’s pushing prices higher? The key factor putting a rocket under property

Apartments stand out as an affordable choice when it comes to cracking the property market, not to mention downsizing. But a looming shortage may soon push unit values higher. For many of us, buying a house on its own block of land is the ‘great Australian dream’. While plenty of people achieve this goal, our property journey is often book-ended by apartment living. For first home buyers, units can be an affordable choice, costing around 30% less than houses according to CoreLogic. Then, as we head into our senior years, an apartment offers secure, low-maintenance living, often with a wealth of

There’s a lot to be said for having your home loan pre-approved. But does pre-approval mean you’re putting the cart before the horse? Definitely not. Here are three ways pre-approval can help you get ahead of the competition. Here’s a handy tip: you don’t have to wait until you’ve found a home you’d like to buy before making mortgage enquiries with a lender. It’s possible to have a home loan pre-approved before you’ve even started to wear out shoe leather at open home inspections. It can mean you’re ready to go with your loan, with only a few formalities to

The property market has thumbed its nose at higher interest rates, with values rising almost 5% since March. Here’s why national housing prices are climbing higher. Australia’s housing market is making a bigger comeback than Barbie. Despite interest rates rising 4% in a year and a cost of living crunch, home values have skyrocketed with prices soaring 4.9% nationally since March 2023. The strength of the rebound has wiped out about half the losses recorded in the downturn between April 2022 and February 2023, when home values fell 9.1%. In fact, the value of Australia’s housing market just hit $10 trillion again