Mortgage Choice

Another happy client thanks to Mortgage Choice Bendigo & Macedon Ranges. Micaela worked with Mortgage Choice Bendigo to understand her borrowing capacity, find out her home loan options and was able to successfully secure her first home! 🏠

Happy Father's Day to all the amazing dads and father figures. Wishing you a fun and restful Father’s Day.

Australia’s fastest selling suburbs are tearing away from the pack, with homes in some areas barely lasting a week on the market. Try our interactive tool to see if your property is a sprinter or marathon runner.

New PropTrack data shows that in many affordable suburbs with very strong buyer demand and booming price growth highly competitive conditions mean homes are sold much faster than anywhere else.

Serious concerns that the Reserve Bank of Australia (RBA) would raise rates in August did not eventuate, as they were kept at the same level they have been since November last year. So, what is the RBA trying to do?

Market expectations for interest rates have shifted rapidly over the past six weeks, with many tipping the RBA to hike rates as recently as two weeks ago.

Bargain hunters have snapped up ultra-cheap homes across our capital cities over the past 12 months, with capital city home sales as low as $89,000.

Affordable homes in our major cities are hard to come by, with the median home price across the combined capital cities climbing to $855,000 in June, according to PropTrack.

The PropTrack Home Price Index revealed that home prices increased a further 0.08% across the country in July, a slower pace of growth than has been seen this year, which is not uncommon in winter. Find out how the capital cities and regional areas performed.

PropTrack Home Price Index - July 2024 - Mortgage Choice The PropTrack Home Price Index shows that home prices increased a further 0.08% across the country in July, a slower pace of growth than has been seen this year, which is not uncommon in winter.

Households will need to wait a little longer before interest rates come down, with recent inflation figures not quite low enough to convince the Reserve Bank to cut rates just yet.

RBA holds interest rates steady but cuts could begin in three months - Mortgage Choice

Sophie and Kris secured their home loan with Mortgage Choice Richmond some time ago and recently were able to refinance their home loan to consolidate some debts, saving them money on interest. By refinancing they were able to undertake some backyard renovations that were a big hit for the most important member of the family - 🐶🐾.

The Reserve Bank says more borrowers are falling behind on their home loans, and rates of home loan arrears rates are expected to rise even further.

A new RBA report says the proportion of borrowers who are more than 30 days behind on their mortgage repayments has risen over the past two years as interest rates have increased.

Tax cuts are set to increase incomes by thousands of dollars this financial year, but there’s a way homeowners can boost their finances by much more than that.

The changes to tax rates that came into effect July 1 are expected to increase homebuyers borrowing capacities by tens of thousands of dollars.

Younger Aussies are finding elaborate ways to put a roof over their heads, with relocatable homes on wheels becoming the new quirky and cheaper way into the Australian housing market.

Falling under the same statewide legislation as a campervan, younger generations are using their parents backyards to set up their new digs.

Having an offset account could help you save thousands of dollars in interest over the life of your loan. Other key benefits include:
- Your money is still accessible.
- Earn high interest 'returns' on your savings.
- Interest is calculated daily on the loan amount minus the offset balance.
- Offset account’s interest gain is not taxable.

New data from the latest Mortgage Choice Home Loan Report has revealed that four out of five borrowers have had to tighten their budgets to keep up with home loan repayments as a result of high interest rates.

Interest rates have risen 13 times since May 2022, significantly increasing home loan repayments and stretching homeowners' budgets.

Understanding how much your monthly mortgage repayments could be is a key part of buying a home. It helps you develop a buying budget and plan ahead by knowing how your home loan repayments may impact your finances.

Securing a home has become increasingly difficult in recent years as prices continue to peak and borrowing capacities have reduced. Recent analysis indicates that people may be opting for more affordable properties as a result.

According to PropTrack’s Housing Affordability Report, housing affordability is at its lowest level in three decades. .

Affordable pockets, high density hubs, small regional towns and coastal escapes are among the areas providing the best returns for property investors looking to beat the market, new data shows.

Analysis of PropTrack data has revealed the investing hotspots around the country, highlighting suburbs with the strongest rental yields and long term price growth that has outperformed the wider property market.

Persistent inflation will give the Reserve Bank plenty to think about at its next meeting, with the latest data suggesting a rate hike in August could be on the cards.

The latest monthly inflation data from the Australian Bureau of Statistics, released today, showed annual inflation rose 4% over the 12 months to May, up from 3.6% in April.

The Australian housing market has weathered significant challenges over the past five years, showing remarkable resilience despite a global pandemic, multiple interest rate hikes, and high inflation.

The latest data sheds light on the current state of the property market and offers insights into its trajectory for the remainder of 2024.

Meet Montana and Connor who purchased their dream home for their fur baby Marshall 🐶 with the help of from . They were referred to Mortgage Choice by an aunt and with their pre-approval in hand, they nailed their first offer! 🏡🎉

Congratulations & .rutland on securing your first home, and for helping another client achieve their dreams.

Mortgage Choice is proud to celebrate NAIDOC Week 2024. We’ve collaborated with Ingeous studios and Indigenous Design Labs to honour this year’s theme, ‘Keep the fire burning! Blak, loud and proud’.

Indigenous Design Labs is a social impact venture that introduces aspiring young Aboriginal and Torres Strait Islander designers to the digital design and creative industries by providing creative opportunities and learning. Our design incorporates this year’s NAIDOC Week theme through modern, stylised elements.

🌊 A key part of the design is the healing waterway, which symbolises the role we can all play in sharing and acknowledging Australia’s First Peoples’ history and culture. Healing waterways symbolises truth-telling of our past histories, which is an integral part of our healing journey.

🔥 Campfires are also featured throughout the design to represent the sharing of this knowledge so we can join together to ‘keep the fire burning’.

Join us in celebrating this year’s NAIDOC Week.

Most taxpayers will see their take-home pay rise as a result of the stage three tax cuts coming into effect, with the increase to incomes raising the maximum amount of money that buyers can borrow.

The property market is set to get a shot in the arm with tax cuts boosting typical buyers’ borrowing capacities by tens of thousands of dollars.

Despite the influx in property listings, buyer demand appears to be keeping up - depending on where you look - with a two-speed market emerging across the country.

The onset of winter has done little to cool property markets across the country, with more homes being listed for sale than usual for what is traditionally a quieter season.