Ensure you never miss an issue of the
real estate business bulletin
Home buyers enjoy rate options

Home buyers enjoy rate options

by Reporter 0 comments

Staff Reporter

Furious activity in the home finance sector has created a smorgasbord of offerings for homebuyers, says leading mortgage broker Loan Market.

Loan Market chief operating officer Dean Rushton said the latest rate movements had prompted some major changes in pricing offered by banks and other lenders.

Mr Rushton said while rising rates were always of concern to mortgage holders, there were still plenty of competitive deals to be considered.

"The RBA's decision to lift the cash rate by 0.25 per cent to 4.75 per cent led to all the major banks increasing their variable rates by larger margins than the central bank," he said.

"This was not good news for home owners in general but it has resulted in increased special offers on certain products and for selected customers.

"There's literally a smorgasbord of lending product and pricing for home owners to consider.

"And this wide range of offers has also provided the opportunity for mortgage holders to even engage in a bit of Bali-style bartering."

Mr Rushton said while the standard variable interest rates being offered by the major banks were between 7.67 per cent and 7.83 per cent, there were a large number of variable rates on offer for less than 7.0 per cent.

"There are also new three-year fixed rates on offer for between 7.0 per cent and 7.10 per cent," he said.

"So there is a lot out there in the market for home owners and would-be home owners to consider with more changes to come as smaller lenders make their decisions.

 

le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
Home buyers enjoy rate options
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?