Buying your first home is an exciting time! Did you know that the Australian Government has two new initiatives that support first home buyers? These are the First Home Loan Deposit Scheme (FHLDS) and the First Home Super Saver (FHSS) scheme.
Short-term rental properties like Airbnb have flourished in recent years, yet lenders still struggle to accept them as a valid income stream for borrowers.
A recent spike in funding costs is happening at the worst time for Australia’s big banks, as intense public scrutiny crimps their ability to pass on increases to customers.
Higher interest rates: Some of the major lenders are increasing the interest rates for investment loans. Some recent examples are Commonwealth Bank (CBA) cancelling pricing requests for investment loans, and Macquarie increasing rates for investors.
Check out our new Explainer Video to find out exactly why using Cairns Mortgage Brokers is so important when looking for a home loan, be it for a new property or to refinance your existing home loan. We also handle business finance so if you are in the market for finance give us a call on 0413 713 534.
In a subsequent speech the Governor strengthened his commentary around the AUD referring to it as “overvalued, and not just by a few cents”. He did not go as far as restoring the easing bias but did quote market pricing as indicating that ” if a move were to occur over the next several months … it would be down not up”. He also noted that “we still have ammunition on interest rates”. Market pricing is now pointing to a 40% probability of a rate cut by year’s end.