Who is still offering low-rate home loans after the March 2023 rate hike?

The Reserve Bank of Australia (RBA) has raised the national cash rate at every one of its last ten meetings, taking it from the record low of 0.10% to 3.60% in March 2023 - the fastest hiking cycle in decades. With banks and mortgage lenders passing this increase on to home loan customers, mortgage rates starting with a 4 are becoming much harder to find, though a small number may still be available.   

Which banks have hiked savings account and term deposit rates in March 2023?

The Reserve Bank of Australia’s (RBA’s) mission to bring down high inflation has seen the national cash rate increase for the 10th straight monthly meeting as of March 2023. With several Australian banks and Authorised Deposit-taking Institutions (ADIs) passing this rate rise on to savers, more Australian savings account interest rates are starting to hit the 5.00% mark.  

How to structure your mortgage to reduce interest

Minimising the interest charged on your home loan can not only save you money on your repayments, but potentially help you pay less interest on your property in total. You may need to think about how your mortgage is structured and set up, as different home loan options may affect how your interest is charged and paid.

Can a mortgage broker charge a cancellation fee?

You normally don’t pay a fee for the services of a mortgage broker. However, if the broker does the work for you and you decide not to apply for a home loan, the broker may sometimes charge a cancellation fee. There are also other fees a broker may charge in certain circumstances. 

How to avoid overstretching your home loan budget

The more you can borrow for a home loan, the higher the property prices you may be able to afford. While this could let you purchase your dream home or investment property, pushing your finances too far could risk putting you in mortgage stress.

Which bank is best for first home loans?

Because a home loan is a major financial commitment, it makes sense to look for the best possible option for your first mortgage. To find the best mortgage lender for your needs, you may need to look beyond just the interest rates and consider each lender’s features and benefits, including their customer service.

What to expect from the RBA meeting in March 2023

In February 2023, the Reserve Bank of Australia (RBA) sprung out of the blocks ready to take on inflation, hiking the cash rate by 25 points. Most of Australia’s major banks are expecting a repeat performance at the March 2023 meeting, though it’s not certain when the cash rate will reach its peak, or when the RBA will start cutting rates. 

Why lenders may use exposure limits to curb the size of your mortgage

Exposure limits are the maximum amounts that lenders will let you borrow, taking all your current debts into account. For property investors taking out a mortgage when they’re already paying off others, debt exposure can be a dealbreaker.

Some of the best home loans in March 2023

Interest rates are widely tipped to rise at the next meeting of the Reserve Bank of Australia (RBA), with at least one more hike expected to follow. As the cash rate potentially approaches its peak, what will this mean for Australian homeowners and first home buyers?

How to get multiple mortgages for investment properties

Investing in real estate can let you benefit from rental income today and potentially capital gains in the future if your investment property’s value increases. The more investment properties you add to your portfolio, the more of these benefits you could potentially enjoy.