Home Loan News

The Reserve Bank (RBA) has stated that they feel that the Federal Government's fiscal stimulus package and the large interest rate cuts will flow through to the economy, although it will take sometime for the full effect to be felt.

According to brokers the latest interest rate cut and the improvement to the first-homebuyer's grant have brought about a surge in demand for mortgages over the past few days.

Australians have been scared into paying off their debts and ramping up their savings due to the sinking economy and fear of losing their jobs.

Less than 5 per cent of mortgage borrowers have opted to reduce the repayments on their mortgages as figures from the big four banks have shown.

The Reserve Bank has cut interest rates to their lowest point in more than 45 years, and is tipped to reach a record low of 2 per cent by midyear.

Update: Check up-to-date Home Loan Interest Rates after RBA meeting in April 2009.

The Reserve Bank of Australia has cut the cash rate by 100 basis points to 3.25 per cent, its lowest level since 1964.

This move by the Reserve Bank of following its board meeting in Sydney on Tuesday was in line with what most economist were expecting.

While addressing a packed house of the hedge funds and bankers at the financial services program of the G'DAY USA, Treasurer Wayne Swan has indicated to US investors that further interest rate cuts are likely in Australia.

The first home buyers grant has lifted the purchase of new homes by 10 per cent in its first month causing pressure on Kevin Rudd to extend the first-home buyers grant beyond June 30.

Snap up a bargain! Experts say 2009 may be the perfect time to buy your dream home but do not expect a swift recovery in housing prices.

Under a Federal Government plan to halve homelessness by 2020 landlords could find it harder to evict tenants.

The Government's package will provide extra security for victims of domestic violence and also includes a brokerage fund to provide mortgage top-ups.