Mortgage News Archive - August 2007
Borrowers face higher rates
NATIONAL Australia Bank chief John Stewart warned yesterday interest rates on household lending may have to be increased irrespective of the next official hike by the Reserve Bank. More
August 29, 2007
Home owners reach crisis point
STRUGGLING households are spending more than a third of total income on paying off mortgages - and things are unlikely to get better by the end of the decade. More
August 28, 2007
Aussie John's cure for housing crisis
FIRST-home buyers would receive almost $25,000 in tax breaks over five years – on top of the existing $7000 grant – under a plan to stem the housing affordability crisis. More
August 23, 2007
Lessons to fight housing crisis
YOUNG people could be given lessons on money management before buying a house under a federal plan to combat Australia's housing crisis. More
August 20, 2007
Auction clearances rebound
HOMEBUYERS have shrugged off concerns about global financial markets to push weekend clearance rates close to levels not seen since the housing boom of 2003. More
August 20, 2007
Mortgage stress on rise
MORTGAGE stress is hitting home buyers in wealthy inner-city suburbs as the housing affordability crisis continues to bite. More
August 17, 2007
ATO crackdown on property investors
THE purchase of all investment properties and shares nationwide over the past year will be scrutinised as part of a major tax office crackdown involving data-matching more than 220 million electronic transactions across the economy. More
August 17, 2007
More mortgage pain ahead, says Commonwealth Bank
THE nation's biggest home lender has warned that home-owners' mortgage rates will rise as the fallout from the US housing crisis continues to spread through global financial markets. More
August 16, 2007
Loans crisis could lift interest rates
HOMEOWNERS already feeling the squeeze after last week's interest rate rise could face further pain after the current global lending crisis yesterday reached Australian shores. More
August 15, 2007
Boral predicts NSW housing recovery in 2009
AUSTRALIA'S largest construction materials company, Boral, says it expects the struggling NSW housing market to recover in 2009, but has expressed concerns about worsening housing affordability. More
August 15, 2007
Affordable housing for low-paid
LOW and moderate income-earners will be given the first opportunity to buy affordable homes to be built in Adelaide in an Australian-first program, the State Government says. More
August 14, 2007
US crisis hits local mortgages
THE US mortgage crisis has hit Australian home buyers for the first time after one lender yesterday hiked its rates by up to double last week's official interest rate rise. More
August 14, 2007
Interest rates rise to hit house prices
HOUSE prices in already depressed outlying suburbs along the eastern seaboard could fall by more than 5 per cent after the latest rate hike, the fifth since the 2004 election, all of which have added $150 a month to the average mortgage. More
August 9, 2007
Home loans surge as investors return - ABS
OVER 66,700 people took out a home loan during June, the Australian Bureau of Statistics (ABS) said today. More
August 8, 2007
House prices surge nearly 10pc
AUSTRALIAN house prices rose 3.2 per cent in the June quarter, and nearly 10 per cent over the past year, the Australian Bureau of Statistics said today. More
August 8, 2007
Poor spend same on homes as rich
POOR families spend nearly as much money on rent or mortgage payments each week as middle-income families, but they are forced to sacrifice on food and medicines. More
August 8, 2007
Mortgage defaults soar by 329pc
AUSTRALIA'S insurance regulator has drawn attention to a spike in the number of stressed homebuyers, confirming that claims for mortgage defaults soared by 329 per cent in the year to December. More
August 7, 2007
Pollies blamed for housing crisis
AUSTRALIA'S biggest bank bosses have blamed both sides of politics for being lazy and ignoring the national housing affordability crisis. More
August 3, 2007
Home ownership now an 'unattainable dream'
HOME ownership has become an unattainable dream for many low- to middle-income earners in Australia, a new report has found. More
August 1, 2007
Rates rise more likely as private debt spirals
PRIVATE debt is growing faster than at any time since the last days of the 1980s property boom, increasing the likelihood of another rate rise next week. More
August 1, 2007