We all know being on our monetary best behaviour can help to land a home loan. But did you know there are common spending habits you may have that are red flags to lenders? Smart money management and cutting back on expenses can help your home loan application. That’s no secret. But a bit of measured discretionary spending can add a little spice to life. We’re human after all. And lenders will see this as normal. However, there are certain spending habits and types of transactions that can be a red flag to lenders. And these may hinder your chances

Home loan headlines have been, let’s face it, a bit of a downer of late. But the good news is that first-home buyers are now reaching their 20% deposit goal faster. First home buyers have been delivered a bit of well-deserved good news with the findings of the 2023 Domain First Home Buyer Report. The analysis shows that first-home buyers aged between 25 to 34 are hitting their house deposit saving goal more quickly compared to April 2022 – a month before the first of ten consecutive cash rate hikes. State-by-state breakdown Sydney experienced the biggest decline – a whopping 17-month

Rate rises can affect the property market, as we’ve all seen of late. But there are other factors that appear to hold longer-term sway over national house prices. In a bid to bust inflation, the Reserve Bank of Australia (RBA) has been on a rate rise run that’s seen the official cash rate go from a record-low of 0.10% to 3.60% in just 10 short months. Along the way, we’ve seen property prices across Australia decline. As rates rose, Australia saw the largest and swiftest property price drop on record, with a 9.1% fall from April 2022 through to February 2023. But

The Reserve Bank of Australia (RBA) has increased the official cash rate for a tenth straight meeting, taking it to 3.60%. How much will this rate hike increase your monthly mortgage repayments, and how many more rate rises are expected to come? The RBA’s latest move takes the cash rate to its highest level since May 2012. However, in somewhat hopeful news for mortgage holders, RBA Governor Philip Lowe has softened his language around the timing of future rate hikes. While last month he said “further increases in interest rates will be needed over the months ahead”, no such statement was

The property market has had more plot twists than a daytime soap opera in recent years. So getting the skinny on current trends is helpful when you’re planning to buy. Here’s the lowdown on the latest surprising bit of data. Despite all the media doom and gloom predicting that the Australian housing market would tank in 2023, national property prices actually rose ever-so-slightly in February. So what the heck is going on? Property price trends You may have heard it’s been a bit of a buyer’s market in recent times. Over the past 12 months, property prices were down 7.2%, the

Have recent rate hikes made you nervous about taking the plunge into the property market? You’re not alone; it’s a buyer’s market for a reason. Here’s how to stay cool and calm when buying your next property.  As you’ve probably seen in the news, the Reserve Bank of Australia (RBA) has increased the official cash rate from 0.10% to 3.35% in just nine months. It’s now the highest it’s been since September 2012 – so it’s only natural to feel a bit hesitant about buying property right now. But rest assured with the right buying strategies in place, you can