Each week we ask a question to help you focus on an area of your finances that might need a closer look. This week: How can you automate your finances? You’ll have heard it many times: automate your finances to really get ahead. But what exactly does that mean, and why does it matter so… Read more »
After 11 years of interest rate cuts down to record low levels, interest rate rises are about to start, which could hurt many borrowers. But there are four things you can do to lessen the pain of interest rate rises. It’s worth exploring these so you don’t end up paying more in interest than you… Read more »
If you’re paying off a mortgage – or aspiring to – imagine if you didn’t have to worry so much about rising interest rates. That’s already the reality for US home buyers. Unlike in Australia, most mortgages in the US have a fixed-interest rate, locked in for 30 years. Instead of having to wait and… Read more »
Right now, is it best to put extra money into your mortgage or super? To help you decide, here are four questions to ask yourself. At a certain point in life, many wonder what’s better: to pay off the home loan ASAP or top up your superannuation? If your emergency cash buffer looks okay and… Read more »
Rising interest rates will have a big impact on the average mortgage – and an increase is predicted to happen sooner rather than later. The average mortgage holder could end up paying $103 more in monthly repayments on their home loan by the end of this year, and $427 a month more by March 2024,… Read more »
WLTH CEO Brodie Haupt outlines the emerging lending trends of 2022 and what to look out for. If you are in the housing market or contemplating entering, it is crucial to pay close attention to the Australian Prudential Regulation Authority (APRA) lenders’ moves, and their impact on your mortgage. With the economy taking a brutal… Read more »
What exactly is mortgage stress, and how can you overcome it without losing your home? With the Reserve Bank of Australia (RBA) signalling that interest rates are anticipated to rise in 2024, many banks and home loan providers have started to shift their own fixed rates. Many of these changes have seen these financial institutions… Read more »
Tougher lending restrictions are being introduced for mortgages from December. Here’s what that means for new borrowers. With most banks and home loan providers already operating under the new Credit Contracts and Consumer Finance Act (CCCFA), the process around applying for home loans is changing. The level of evidence required for a home loan is… Read more »
Yesterday Westpac hiked its fixed rate home loan for the second time in less than two weeks, and today the CBA followed suit. Which begs the question: Is it time for a fixed-rate home loan? Three-year fixed-rate mortgages are tied to market rates of that term because banks borrow or hedge interest rate risk at… Read more »
Receiving “conditional” loan approval from your lender gives you the confidence to start house hunting in earnest, but it’s still not a done deal. Finding the perfect property takes time, and so does securing the perfect home loan. You can’t rush these things. Don’t wait until you’re standing on the nature strip, trying to outbid… Read more »
