Popular online lender ING has jumped the gun, cutting rates on a number of its fixed home loan products for owner-occupiers and investors by up to 75 basis points.
Despite desperately wanting to own a house, the number of millennials who have given up on the hope of moving out of home before the age of 30 has skyrocketed.
The Reserve Bank’s monthly meeting is just around the corner with a rate cut almost a certainty, but that hasn’t stopped lenders cutting rates for new customers as the home loan war heats up.
While housing sales may have slumped during the recent property downturn, recent data shows sales have levelled out thanks to rising home values and low interest rates.
There is a huge difference in price growth between houses and apartments in Australian cities, and it could be one of the biggest issues Australian property markets have ever seen.