Mortgagors on interest-only loans are choosing to pay down their debt, switching from interest-only to principal and interest home loans ahead of expiry amid record-low interest rates.
Consultations with lenders regarding their participation in the Federal Government’s new First Home Loan Deposit Scheme are due to begin following the introduction of draft laws.
NAB economists have changed their mind on the Reserve Bank outlook and now believe the RBA could cut the cash rate to as low as 0.25% by mid-2020 unless there is “meaningful stimulus”.
When it comes to choosing the best value home loan, many Aussie homeowners are punching below their weight, according to recent research from Australia’s corporate watchdog.