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Your Mortgage – Page 121

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Working through the web of buying your first home

First homebuyers are starting to trickle back into the market despite rising interest rates and soaring fuel prices. With an estimated 18% of all homes purchased by first homebuyers, lenders and mortgage service providers are racing to cater to this growing sector. To this end, IMB Banking and Financial Services is launching an online service to help first homebuyers navigate the stressful process. The website www.firsthomefriend.com.au features an easy-to-understand guide on how to buy your first property as well as tips and checklist on how to conduct an extensive research before buying. It also features advice on how to find and select the best loan options.

01 Aug, 2006

Interest rate concerns cloud ABS figures

The May housing finance figures from the Australian Bureau of Statistics (ABS) have provided an encouraging outlook for the housing market, tinged with just a touch of hesitation regarding future interest rate rises. The ABS figures indicate that the total value of dwelling finance commitments increased by 4.5% compared with April 2006. The number of loans for the purchase of new dwellings rose by 5.6% over the month, to sit 31% higher than the same time last year. Likewise, the number of loans for the purchase of established dwellings rose by 5% in May - a 15% increase over last year.

18 Jul, 2006

Need a loan? Time to wise up!

Prospective borrowers are in need of education - a third of all consumers shopping for a mortgage don't know how the home loan process works, according to Mortgage Choice. In an annual survey of Mortgage Choice loan consultants, only one quarter of borrowers were considered well informed about what is involved in taking out a mortgage.

04 Jul, 2006

Data providers split hairs over RBA report

Leading providers of house price data Australian Property Monitors and Residex are waging a war of words in response to the Reserve Bank of Australia's release of two discussion papers last Wednesday. The point of contention between the two number crunchers is whose method of calculating house price data is preferable to the RBA. APM, in its weekly newsletter, informed readers that its approach to calculating median prices had been endorsed in the RBA's reports.

06 Jun, 2006

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