For many Australians, rate hikes and inflation have made the dream of property ownership feel ever more distant. But a recent analysis shows that meeting mortgage repayments could actually be cheaper than renting for more than a third of Australian properties. Look, we get it. Often the biggest obstacle in the way of home ownership is saving up for a deposit. But once you’ve got that sorted – which we’ll help you tackle below – a recent CoreLogic analysis found servicing a mortgage was more affordable than average rent prices in 518 Australian suburbs. In fact, in some areas there were savings of

Whoa, Nelly! The Reserve Bank of Australia (RBA) has lifted the official cash rate again, this time by another 25 basis points to 2.85%. How much will this rate rise increase your monthly mortgage repayments, and when are the hikes expected to stop? Dubbed the “rate that stops the nation”, today’s Melbourne Cup RBA board meeting did not see board members rein in the rate rises. Back in May the official cash rate was just 0.10%. Today it was increased for the seventh straight month to 2.85%. RBA Governor Philip Lowe said in a statement that the RBA board expected to increase

You may have heard that property values are on the decline. But what does this mean if you’re planning to refinance? We’ll discuss how falling housing prices may affect your refinancing application and what you can do about it. With the rising cost of living and climbing interest rates, you may be looking to refinance your mortgage. Depending on your circumstances, it can be a great way to get a better interest rate on your loan. Not to mention that if you need access to funds for an investment property or renovation, refinancing can allow you to cash out equity

You’ve bought a home. And now you might be considering adding an investment property to your portfolio. But have recent interest rate hikes cooled your heels? We’ve outlined reasons why now may still be a good time to buy. To buy or not to buy, that is the question. There’s no denying that rolling rate rises might have some sections of the media spouting doom and gloom. After all, national property prices have dipped and higher interest rates can lower your borrowing power. However, if you’re in a position to buy now, the current climate can provide less competition and

Nurses, midwives and other important healthcare professionals can now qualify for a lenders mortgage insurance (LMI) waiver policy. Here’s how it could save them thousands and fast-track their journey into home ownership. Are you a nurse or a midwife? Or do you know someone who is? There was a pretty big announcement recently that allows eligible nurses and midwives (who earn over $90,000 per annum) to buy a home with just a 10% deposit and avoid paying LMI with a Westpac home loan. It’s an extension of the bank’s existing low deposit, no LMI home loan policy that’s also available to the

The recent decline in rental properties has caused many to feel uncertain about their housing situation. Here’s how you can leave renting in the dust and make homeownership a reality. Dwindling rental supplies in many parts of the country and soaring rental prices have many tenants looking for an escape. Terms like “housing crisis” are being bandied about, and in many ways, homeownership has never looked more enticing. The government has brought forward the regional first home buyer guarantee by three months to October 1, meaning regional Australians will soon have additional assistance to buy their first home. But that doesn’t mean city