I have been contacted by a prospective purchaser seeking assistance with bidding on a property she was interested in and advertised on openn.com.au; and credit advice and brokering on her loan.
The short answer was "Welcome to online auction bidding".... Read more
Not often you will find graphs that show what your great grandparents paid for their house and what their home loan interest rate was at the time.
Now you do.
Owner Occupied Variable Home Loan Interest Rates since 1959.
... Read more
An Oatley apartment was sold at auction on Saturday 30 November 2019.
I was not surprised that there was a dozen or so hopeful bidders, with several bidding relentlessly.
The successful bidder paid 47.8 times earnings ( (rent less outgoings)... Read more
What is the Yield Curve implying?
The below graph plots the Implied Forward Interest Rate yield curve (blue line) which is derived from the Interest Rate Swap yield curve (red line) as at 29 October 2019.
Any changes to today's yield... Read more
Now that we had three Reserve Bank interest rates cuts in June, July and October 2019 and banks have not passed in full the Reserve Bank cuts, the topic of the "Loyalty Tax" has surfaced.
Withhold some of... Read more
The Morrison Liberal government’s proposed Consumer Credit Protection Amendment (Mortgage Brokers) Bill 2019 contains a new best interests duty obligation on mortgage brokers but not on lenders.
The application of this test would require mortgage brokers to ensure their... Read more
‘Need some assistance? Speak to a Mortgage Broker’ the ad boasted.
But the best part of the ad was 'Access 3,000+ loans from over 20 lenders.'
A simple arithmetic calculation equates to an average of 150 loans... Read more
Recently, there has been a lot of extra whinging from numerous mortgage brokers that the time and effort required to prepare a loan application has increased, and wait for it, wait … it is eating into their profitability.
They... Read more
You have heard it before, many, many times before (so we shall keep it short) from brokers to branch lending experts to the media - applying for a home loan requires making many decisions ... most borrowers struggle with the... Read more