Australians are extending the length of their mortgages in a desperate bid to bring down ever-increasing repayment amounts, but experts have warned it’s a short-term fix that could cause long-term pain. New Finder research suggests 429,000 borrowers have added years to the length of their loan term in an attemptContinue Reading
Hundreds of thousands of Australians are flooding financial crisis hotlines in desperate need of help, on the brink of losing their homes as they struggle with sky high mortgage repayments. Rapidly rising interest rates and a worsening cost-of-living crisis have combined to create a perfect storm that experts say wouldContinue Reading
A short plane ride from here, a city once crushed beneath the weight of skyrocketing rents and eye-watering property prices has found a solution to the type of housing crisis plaguing Australia’s major cities. While bold and quite controversial, the fix was relatively simple, quickly implemented and highly effective, dramaticallyContinue Reading
Aussies have lashed out after being forced to wait over an hour in a virtual queue while trying to complete their tax return. Frustrated taxpayers took to social media to complain after logging in to their myGov account only to be met with a “hang tight” message on the AustralianContinue Reading
Australia’s housing and rental crisis is continuing to worsen, with availability dwindling and prices skyrocketing due to demand. Other factors such as high interest rates, 400,000 migrants expected to move to Australia over the next year and the rising cost of construction are also all contributors to the growing housingContinue Reading
Mortgage holders have been warned there could be more interest rate rises to come despite the Reserve Bank halting its unprecedented run of hikes in April. The central bank left the cash rate on hold, for the first time in a year after 10 consecutive rises, at 3.6 per centContinue Reading
Mortgage holders can breathe a sigh of relief after the Reserve Bank halted its unprecedented run of interest rate rises. The central bank board left the cash rate – which guides interest rates sent by lenders – at 3.6 per cent when it met on Tuesday. The RBA indicated lastContinue Reading
NSW Premier Dominic Perrottet has called on the banks to think twice before passing on Tuesday’s Reserve Bank (RBA) rate hike, imploring financial institutions to “look after” struggling families. Australia’s interest rate now sits at 3.35 per cent after the RBA hiked rates by 25 basis points in its ninthContinue Reading
A young new property owner is tightening her spending as the Reserve Bank of Australia (RBA) hiked interest rates to a 10-year high. Sammie Baker, 24, strategically bought a Brisbane apartment in July this year when her borrowing capacity was still large enough to secure her dream place, but demandContinue Reading
Three of the four Big Four banks have announced they will pass on the latest interest rate hike. Australian’s worst fears were confirmed on Tuesday with the Reserve Bank of Australia pushing up interest rates for the eighth consecutive month. The RBA increased rates another 0.25 per cent in DecemberContinue Reading