The looming threat of higher interest rates is prompting more mortgage holders to fix rates, says John Flavell of Mortgage Choice.
Because they are delaying the purchase of their first home, more Australians will have a mortgage later in life, according to The Australian Housing and Urban Research Institute.
Mortgage holders should review their home loans after a number of lenders imposed out-of-cycle interest rate rises, says John Kolenda of mortgage broker 1300HomeLoan.
What will happen when interest rates rise, and how can we prepare for a higher interest rate environment?
The Housing Industry Association's Stamp Duty Watch reveals current rates of stamp duty mean the typical Australian family is paying more than $100 in additional mortgage repayments each month.
CBA, the National Australia Bank, and Westpac are raising mortgage interest rates amid higher global funding costs.
"Any speculation that mortgage rates are set to rise is likely to dampen activity in the housing market," says Tim Lawless, research director, CoreLogic.
In a somewhat unorthodox marketing campaign, UBank is asking Australians only to borrow what they can comfortably afford to repay.
Loan-to-valuation ratios are tracking lower from a 2013 peak, as homeowners build equity in their properties as prices rise.
Now a great time to purchase highly affordable property in Western Australia, and lock in future capital growth.
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