No change to the cash rate again this month, but lenders’ mortgage rates have been jumping around more than a bunch of toddlers at a Wiggles concert. We reveal the current average rates to see how your loan compares. Home owners are celebrating the official cash rate staying on hold for several months. But behind the scenes, Mozo reports that lenders have been “astonishingly busy” adjusting their home loan rates – both up and down. Key movements over the last month include NAB, CommBank and Bank of Queensland lifting some of their variable rates. However, in the fixed rate market, plenty of

First home buyers who bought into the market using the federal government’s 5% deposit scheme have racked up $82,000 in home equity on average, new data shows. It’s been three years since the First Home Loan Deposit Scheme was launched, and while it’s known today as the Home Guarantee Scheme (HGS), it’s still helping first home buyers get into the market with just a 5% deposit and no lenders’ mortgage insurance (LMI). The HGS attracted criticism from some circles – some pundits pointed to the low deposit as a stumbling block that could land homeowners in trouble if property values

The highly anticipated Help to Buy Scheme will kick off next year, giving more Aussies a chance to score their dream home. Today we’ll unpack how the new federal government scheme will work, who it’ll benefit, and the fine print you need to know. A key election promise of the Albanese government, Help to Buy is a shared equity scheme aimed at helping 40,000 low and middle-income earners buy a place of their own (10,000 allocations per year). The scheme involves the government making an equity contribution worth up to 40% of the value of a new home, or 30% of the

An avalanche of rate hikes over the past 18 months has supersized home loan repayments. But savvy homeowners aren’t panicking. In fact, more mortgage holders than ever before are reaching out to brokers for expert help. A recent survey by the Mortgage & Finance Association of Australia (MFAA) shows 95% of mortgage brokers are meeting with homeowners who have never used a broker before. And it’s a move that’s paying off. The MFAA reports nine out of ten brokers have successfully secured a rate discount for their clients this year. And more than eight out of ten have helped their clients refinance

The Reserve Bank (RBA) may have kept the cash rate on hold but that hasn’t stopped some lenders from hiking their variable home loan rates. Here’s how borrowers are fighting back. Home owners may be celebrating two months of the RBA cash rate staying on hold. But don’t pop the champagne cork just yet. Mozo reports that some lenders have sneakily hiked their variable home loan rates in July despite the cash rate holding firm. These hikes, known as ‘out-of-cycle’ rate rises, can fly under the radar. So it’s important to keep an eye on what your lender is doing. Who’s hiking

Mortgage holders rejoice – the Reserve Bank of Australia (RBA) kept the cash rate on hold in August for the second month in a row. So have we finally reached calmer waters? Or is there one last rate rise wave headed our way?  In what many will see as better news than a Matildas’ World Cup win, the RBA held interest rates steady in August for the second month in a row. After a relentless string of rate hikes (12 since April 2022), homeowners may be sceptical about what’s happening. So is the RBA board finally satisfied we’ve endured enough rate hikes?