Owing nothing would be grand,but there are big reasons to keep a mortgage going,rather than seeking to discharge it early.
Home owners in mid life can get double the benefit with the right choice of strategy as mortgage costs go up.
When the Reserve Bank cut interest rates last year,most borrowers did not reduce their repayments. That may save them from the pain of this week’s rate increase.
The RBA has increased interest rates to 3.85 per cent. Use our calculator to see how much extra your mortgage repayments will be.
Expectations of a rate hike next month have eased,but lenders have already started to shift their fixed rate offerings.
Treasurer Rita Saffioti said by helping construction workers get a home,WA could build more homes.
Banks have started nudging up costs amid speculation the RBA’s cutting cycle has ended,and experts say the trend has further to run.
If the banking regulator’s latest move is aimed at cooling a frothy housing market,the Reserve Bank will probably beat them to the punch.
The latest ABS figures reveal WA had the second-greatest increase in the nation in total value of property investment loans for dwellings that exclude refinancing.
We were creating something new – but the profits were flowing to the people who owned something old:property.