Home Loans, Mortgage Refinance, Bad Credit Home Loans

During the past 4 years the number of bankruptcies declared in Australia have risen by more than a third.

A study conducted by Melbourne University   reveals that the number of personal bankruptcies rose a huge 6 per cent in 2008-09 to 27,520, an increase of 34 per cent on 2004-05.  The study identifies middle-class professionals and people on high incomes  as the worst hit.  Increasingly demonstrating that Bankruptcy is a very much middle class problem.

The rise in the number of personal insolvencies took place over periods of economic expansion and low interest rates, as well as the converse. This indicates that the increase is not attributable solely to prevailing economic conditions.

Unsustainable costs associated with home...

While most of us may be surprised by this, Australian financial markets are pricing in no change in interest rates for the rest of the year, and at one stage were even factoring in a 20 per cent chance of a cut next week.

What are the chances of this  – probably not very high.

It is the result of the renewed upheaval in financial markets and is part of the rollercoaster ride that both the Australian dollar and the share market have gone through in recent times.

The latest positive news for the financial markets was that China  denied  reviewing its massive holding of the euro and eurozone debt.

But as Westpac’s London senior economist James Shugg told ABC Lateline Business, “if you were contemplating maybe selling an...

Debt-ridden Aussie Households are reducing spending which is so important for the economy’s growth even as home prices continue to rise, a wide-ranging report finds.

The Melbourne Institute’s latest monthly bulletin of economic trends for May flags what it deems ”troublesome developments” as Australians reduce spending on goods and services to cope with climbing interest rises and yet remain willing to jump into the housing market.

Growing interest rates have had the effect of reducing consumption,” today’s report said. ”Australians seem to have cut back on buying goods and services to to ensure that they are able to afford the increased mortgage payments rather than delaying home purchases.”

Capital city home prices rose by a...

It is unanimous – all 17 Economists polled bt AAP believe the RBA will keep rates on hold in June.

Our cash rate is expected to be somewhere between 4.75% and 5.25% by the end of the year.

In an effort to return interest rates to “average” levels, the RBA raised the cash rate to 4.5 per cent in May, its sixth increase since October 2009.

There is still much uncertainty.  This week, the IMF urged EU states to coordinate their national crisis recovery plans by using part of a $1 trillion EU-IMF stabilisation fund to boost growth.

It comes as investors examine whether China’s positive growth trajectory could...

ANZ has announced significant rate reductions on its fixed term mortgages, positioning the bank as a true competitor in fixed lending.

Home Loans fixed for 3 years will have their rate reduced by 6 basis points. Four year fixed loans will see a cut of 19 basis points f, and nine basis points from its five year home loans, taking them to 7.64 per cent, 7.74 per cent and 7.94 per cent respectively.

The interest rate cuts have allowed ANZ to become more competitive in the fixed lending arena.

CBA is offering three year fixed mortgage rates at 7.89 per cent, while Westpac is offering 7.79 per cent.

But despite the cuts to longer term rates, ANZ raised its one year fixed rate product...