Source expert help from your local mortgage broker prior to making an offer on any property; your Loan Market mortgage broker has access to every major bank and secure lender in Australia, and can assist you to find an appropriate home loan.
Major banks should not have passed on entire interest rate rise
Consumer group Choice has spoken out against the major banks, saying they should not have increased their lending rates by the entire 25 basis points after the RBA increase last week.
Choice spokesperson Christopher Zinn said that previously the banks had indicated that the cost of funding was not directly tied to the cash rate.
Mr Zinn said this should have applied when raising rates as well as lowering them.
"The banks really should just have passed on part of this increase in the cash rate and not the full 0.25% if they ...
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Categories: Finance News. Tags: How Much Can I Borrow, Interest Rates, John Kolenda, Loan Market.
Unemployment rate fall may lead to interest rate hike
New figures released by the Australian Bureau of Statistics have revealed the unemployment rate has dropped back to 5.7 percent over September, from 5.8 per cent in the previous month.
The drop took economists by surprise, with most expecting the jobless rate to go up to 6 per cent, as employers hold tight on costs while the economy is in recovery mode.
CommSec chief economist Craig James said the upbeat unemployment figures may prompt the RBA to raise rates by as much as 0.5 per cent at their meeting next month.
Australia’s big four banks, ...
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Categories: Finance News. Tags: Interest Rate, John Kolenda, Loan Market, Unemployment Rate.
RBA raises rates by 0.25%
The Reserve Bank of Australia (RBA) decided raise to the cash rate by 25 basis points to 3.25 per cent at its monthly meeting today.
RBA Governor Glenn Stevens said the global economy was starting to show signs of growth.
“With economic policy settings likely to remain expansionary for some time, the recovery will likely continue during 2010 and forecasts are being revised higher,” he said.
Mr Stevens said the growth in property values, economic conditions being stronger than expected and unemployment not being as high as originally forecast were all factors which contributed to the decision.
Mr ...
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Categories: Finance News. Tags: Interest Rate Rise, John Kolenda, Loan Market, Reserve Bank of Australia.
RBA unlikely to raise interest rates
Fourteen of sixteen economists surveyed by AAP predicted the RBA will leave the cash rate at 3 per cent following its monthly meeting tomorrow.
The remaining two economists said the central bank might begin tightening policy this week, as the Australian economy shows signs of stability.
RBA governor Glenn Stevens said last week that the economy was more resilient than earlier predicted and the central bank had revised its growth forecasts ‘up a bit’.
“I think that things are improving, and that is happening in other countries too,” he said.
Loan Market Executive Director John ...
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Categories: Finance News. Tags: Home Loan, Interest Rates, John Kolenda, Mortgage Broker.
Real estate activity peaks
RP Data figures show that the strong growth in real estate activity seen over the last couple of months has peaked, and is likely to ease over the coming period.
According to the statistics, real estate activity across the nation increased by 17 per cent at the beginning of June, and is currently 26 per cent higher than the same period last year.
These consistently high figures suggest that the number of real estate agent listings is at its peak, and is likely to decrease over the next few months as agents shift focus from listing to selling.
Loan Market Executive Director ...
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Categories: Finance News. Tags: Australian Property Buyers, Home Loan Pre-approval, John Kolenda, Loan Market.
Fall in housing approvals should not cause alarm
The number of building approvals fell for the first time in three months in August, but economists say there is no need for concern.
Seasonally adjusted, Australian building approvals fell 0.1 per cent to 12,126 units that month.
JP Morgan chief economist Stephen Walters said the decrease was mainly due to a dip in apartment and multi-unit dwelling approvals, so the figures were no cause for alarm.
"They were a little bit softer than expectations, but all of it was to do with the high-density dwellings," Mr Walters said.
"In terms of the broader housing market, the ...
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Categories: Finance News. Tags: Australian Property, First Home Owners Grant, John Kolenda, Loan Market.
Loan Market Group had three finalists in the prestigious industry competition, the Australian Mortgage Awards.
Mark Winter from Queensland was nominated for ‘Broker of the Year’ (franchise) and ‘Best New Office’; Doug Owens from Victoria was a finalist in the ‘Best Customer Service’ category and Greg Whitton, also from Queensland, for ‘Young Gun of the Year’.
With more than 13,500 mortgage broking professionals across the country, the industry regards the annual Australian Mortgage Awards as the highest distinction applicable to mortgage brokers.
Loan Market Executive Director John Kolenda said all of the finalists were well-deserved and ...
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Categories: Finance News. Tags: Australian Mortgage Awards, John Kolenda, Loan Market.
The Housing Industry Association (HIA) says new home sales increased by more than 11 per cent in August, which is the highest monthly result for more than three years.
HIA chief economist Harley Dale said that the growth was a result of the First Home Owner's Grant.
“The boost to new home construction from the tripling of the First Home Owner Grant for new dwellings will be apparent throughout the second half of 2009 and well into 2010,” Mr Dale said.
Detached new home sales increased by 21.8 per cent in Victoria, 20.9 per cent in Queensland, and 15.1 per cent in Western ...
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Categories: Finance News. Tags: First Home Owners Grant, John Kolenda, Loan Market.
Australia’s population has increased by 2.1 per cent in the 12 months leading up to 31 March, according to the Australian Bureau of Statistics.
The total population is now 21,779,000.
This level of growth has not been seen since the 1960’s, and the Housing Industry Association (HIA) believes this dramatic increase will lead to a shortfall of over 200,000 dwellings by 2013.
The HIA says the housing shortage will mean higher rents and an affordability crisis.
Loan Market Executive Director John Kolenda said people who are considering purchasing property in the near future should consult a mortgage broker before deciding on a ...
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Categories: Finance News. Tags: Fixed Rate Home Loan, John Kolenda, Loan Market, Variable Rate Home Loan.
First home buyers are expected to bow out of the housing market at the end of the month, when the government’s first home owner’s boost is halved.
According to the Australian Bureau of Statistics, the number of first home buyers has already decreased substantially, with 28 per cent of the market being first home buyers in April, down to 25 per cent in July.
Westpac Bank has seen a 9 per cent drop in first home buyers over the last few months.
Loan Market Group Executive Director John Kolenda said the boosted grant scheme had been a boon to ...
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Categories: Finance News. Tags: First Home Buyers, John Kolenda, Loan Market.
