Home owners are taking advantage of record low interest rates to pay off their mortgages faster. The National Australia Bank says new figures show 85 percent of its mortgage customers pay more than their minimum monthly repayments, Fairfax Media reports. Such NAB customers are ahead by an average of 13 months now, compared with 12 [...]
Tag Archive 'home loans'
Many Australians with home loans are aware of the ability to use the existing equity in their properties in order to further their real estate investment goals but many individuals aren’t actually utilising their equity as they could. New research from Westpac shows that just 11 percent of Australian homeowners are planning to use their [...]
Statement by Glenn Stevens, Governor: Monetary Policy Decision At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent. Growth in the global economy is continuing at a moderate pace, helped by firmer conditions in the advanced countries. China’s growth appears to have slowed a little in early [...]
The Commission of Audit has recommended including homes above a certain value in the means test that determines who gets the age pension and how much. Under the proposal, homes valued in excess of A$500,000 would be assessable for singles, while for couples the trigger would be A$750,000. The family home is currently exempt from [...]