The latest research Mortgage broker market share has had a record level of 71.8% of all new residential home loans for the December quarter ended 2023 in Australia according to recent research released by the MFAA (Mortgage Finance Association of Australia) . This is a significant milestone for mortgage brokers and the Australian home loan market because the previous high of 71.7% occurred in September 2022. The recent interest-rate rises, and economic uncertainty was expected to dampen demand for home loan through mortgage brokers, but these figures show mortgage brokers play a vital part i ..read more

According to the latest report from the Australian Bureau of Statistics, the monthly measure of inflation remained steady in January, recording a 3.4 per cent increase. However, the report also shows encouraging signs that a key measure of price pressures is starting to ease. While housing, food, and insurance services continue to experience price increases, there were falls in other areas such as holiday travel, recreation, and culture. Specifically, the monthly inflation for food and non-alcoholic beverages increased to 4.4 per cent from 4 per cent in December, largely due to higher-priced ..read more

You have found your dream home and need to get finance sorted. Chances you may need a subject to finance condition in your contract. Your mortgage broker What If We Finance will now explain what subject to finance means. What does subject to finance mean? Subject to finance when included in a contract to buy a home tells the other party you legally agree to buy the house so long as you receive formal approval. Subject to finance is often used when you do not have a home loan pre-approval . A pre-approval serves as proof that a lender is prepared to lender to you up to a given amount and p ..read more

Today your mortgage broker What If We Finance explains how we can take the stress out of finance and help you buy your dream home sooner than you think A mortgage broker can be the answer If you’re a prospective homeowner, you know how  stressful it can be to navigate the home loan application process. From wading through the countless loan products to dealing with the  never ending red tape, and bank staff looking at your finances, it can all seem like too much to handle. But there’s a solution that more and more Australians are turning to: mortgage brokers. In fact, between Jul ..read more

Cracking the Code: How a Mortgage Broker Can Help You Secure Your First Home Rising property prices in Australia might have you convinced that owning your first home is an impossible dream. However, with a bit of savvy, this dream can become a reality. Today we will provide guidance on how to approach this significant life milestone strategically. From enlisting the help of a mortgage broker to taking advantage of government schemes, you can navigate your way to homeownership. The following points is How a Mortgage Broker Can Help You secure your first home. Why You Need a Mortgage Broker f ..read more

Mortgage Broker What If We Finance predicts interest rate cuts in 2024.  After reviewing expert and economist research What If We Finance Mortgage Broker Melbourne believes interest rates may be reduced by September 2024. This will provide welcome relief to home loan borrowers. In the mean time home loan borrowers should continue to try and negotiate better rates on their home loans. Expert interest rate predictions Experts are predicting that the Reserve Bank of Australia will cut interest rates starting in September 2024 , with the cash rate holding at a 12-year-high of 4.35% for m ..read more

Australian Prudential Regulation Authority (APRA) confirmed the home loan serviceability buffer will remain at 3%. “Under APRA’s prudential framework, banks must apply certain minimum criteria when assessing a borrower’s repayment capacity. This includes a 3 per cent minimum serviceability buffer, to be applied above the housing loan interest rate. “ APRA and the RBA believe as households are facing increased pressure due to higher inflation and higher interest rates an interest rate buffer of 3% remains appropriate. What Is the Home Loan Serviceability Buffer? APRA requires all lenders to ..read more

The experience of mortgage broker What If We Finance shows existing borrowers are generally being charged rates 0.29 basis points higher than new borrowers. The analysis from January to November revealed that banks and lenders have been focused on attracting new clients rather than prioritising existing clients. This loyalty tax imposed on borrowers has made it difficult for existing borrowers to, and they generally pay more on their home loans. As per the AFR, banks earn an extra $4.5 billion annually through this loyalty tax. To put this in perspective, 0.29% pa on a $700,000 loan equates ..read more

Purchasing a home is exciting yet complicated. Myths about mortgages often circulate, causing confusion and fear for homebuyers. This article aims to dispel those myths with facts from experts to empower you with accurate information. Our goal is to equip homebuyers to make informed decisions throughout the home-buying process. By debunking these common myths, we provide valuable insights to streamline your home-buying journey and set you on the path to successful homeownership. We’ll tackle misconceptions about credit scores, deposits, and home inspections to replace confusion with practica ..read more

The Reserve Bank of Australia has interest rates on hold for December 2023, citing expected decreases in the annual inflation rate. Inflation has been one of the main drivers of interest rate increases. The annual inflation rate decreased to 4.9% in October from the previous month’s 5.6%, surpassing market expectations for a 5.2% surge in the consumer price index. However, although inflation has fallen, RBA governor Ms Bullock remains aware that the 13 interest rate hikes since May last year have not fully impacted the economy. Typically, changes in the cash rate take 12 to 18 months to filt ..read more