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Mortgage Choice Home Loan Bulletin
12 March 2010
Fixed rates have started to re-emerge from the bottom of the loan barrel for new Australian home loan borrowers, according to data from Mortgage Choice, Australia’s largest independently-owned mortgage broker. However, the comeback is very slight.
According to Mortgage Choice loan approval data for February 2010, fixed rate home loans have increased in popularity to just over 2% of new approvals from less than 1% the month previous.
Hence, variable rate loan demand has dropped from a record high of over 99% of new approvals in January to just under 98%.
Mortgage Choice senior corporate affairs manager, Kristy Sheppard said, “Despite having risen to 2% of all our new loan approvals in February, fixed rate home loans have a long way to go before reaching anywhere near their peak of 38% of new approvals in November 2007.”
For further information, click here. |
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Mortgage Choice: First home buyers scared off by rate rises
05 March 2010
If interest rates rise by two percentage points, more than one quarter of Australians buying their first home in the next two years will give up on the purchase, according to results from the 2010 Mortgage Choice First Homebuyers Survey.
This is probably due, in part, to an increasing number of potential first homebuyers intending to buy on their own. 32% of respondents were planning a solo purchase, compared to 28% in the 2009 survey.
Australia is also experiencing a rise in older first homebuyers. 55% of respondents will be aged 30 years or older when purchasing while 45% will be between 18 and 29 years.
Further, the annual independent online survey found 8% naively planned to borrow the full purchase price despite 100% home loans being non-existent in today’s climate.
On the flipside, almost one in three (29%) will have a deposit of 20% or more.
To view the full survey, click here. |
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Mortgage Choice provides tips for investors
26 February 2010
Signaling the return of competition to the mortgage market - albeit a slow return - a number of second and third-tier lenders are working hard for market share. Potential property investors looking to take advantage of higher rental yields and relaxed buyer competition should take note that a number of these lenders are introducing special offers for limited periods. So what are the top tips? Mortgage Choice provides the following five tips to property investors:
- Use the equity from another property
- Pick a loan tailored to your investment strategy
- Consult a buyers agent/property finder
- Positive vs. negative gearing
- Consider all the costs
To view the full document, click here.
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Speech by Michael D’Ascenzo, Commissioner of Taxation
19 February 2010
Mr D’Ascenzo, Commissioner of Taxation addressed the Australian Institute of Company Directors last week in Sydney.
His presentation looked at international regulation; the place of tax in the boardroom; the case for a well-supported tax function; corporate social responsibility; products to provide certainty and promote good governance; ATO risk assessment framework; the rulings process: managing uncertainty, and; Bringing tax risks to everyone’s attention.
To read the full presentation, click here.
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Real estate sector critical to economic recovery
16 December 2009
The latest Australian Bureau of Statistics (ABS) Australian National Accounts figures indicate the crucial role that the real estate sector has played in Australia’s economic recovery.
To view the REIA's media release, click here. |
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