Happy 14th Anniversary!!!
Today we celebrate 14 years of Tungsten Home Loans! A BIG Thank You to our incredible Clients and Partners for this remarkable journey!!!
REFINANCING SURGES
A record number of Australians are switching lenders – and for good reason. ABS data shows external refinances in the September quarter climbed 25.2% on last year and hit an all-time high. This isn’t happening because borrowers are restless – it’s happening because the savings are too big to ignore. Lenders have been [...]
Borrowing Power Jumps
The decision by the Reserve Bank of Australia to reduce the cash rate earlier this month doesn't just mean lower repayments for most borrowers – it also means the average person's borrowing capacity has increased, as occurred following earlier rate cuts in May and February. With rates now lower, lenders are starting to [...]
Research Exposes Variable Rates
The gap between the average variable interest rate and lowest variable rate on Finder, a comparison website, was 1.57 percentage points in early March, while the gap between the average and lowest fixed rate was 1.37 percentage points. It is very important to note that interest rate comparisons are not always equal, and some loans [...]
How Interest Rates impact borrowing capacity…
Higher interest rates make it harder for borrowers to qualify for larger loans or even loans of any size. That's because for every increase of 0.50 percentage points in interest rates, the average person's borrowing capacity falls by about 5%, according to PropTrack senior economist Paul Ryan. Since 2022, the Reserve Bank of Australia [...]
Redraw and Offset… are these loan features right for you?
There’s a lot more to a home loan than just the interest rate. The features of the loan can also have a big impact on your total mortgage costs and repayment flexibility, which is why it’s important to understand the potential benefits of a redraw facility and an offset account. It is no secret that [...]
First Home Buyers and Single Parents getting Support
The federal government has allocated another 50,000 places across Australia to its Home Guarantee Scheme (HGS) for the 2024-25 financial year. That includes 35,000 places for the First Home Guarantee and 10,000 for the Regional First Home Buyer Guarantee. Under the first program, the government supports eligible first home buyers to purchase a property [...]
Housing Assistance Scheme achieves big milestone!
Are you a first home buyer or single parent who wants help getting a property? If so, you’ll be interested to learn that the federal government’s Home Guarantee Scheme (HGS) has now supported more than 150,000 buyers since its inception in January 2020. Eligibility is limited. There are property price caps, which vary from state [...]
New Homes up 5.3%
Australians purchased 5.3% more new homes in February than the month before, according to the Housing Industry Association (HIA). However, HIA chief economist Tim Reardon said this increase was off a “very low” base. Based on the number of new homes being approved for construction and purchased, he forecast there would be a decade-low [...]
Merry Christmas 2021!
I hope you and your family have a fun, relaxing time over the Christmas break. It’s always nice to unwind, whether that means enjoying a barbecue with your friends or travelling with your family. It’s also a good time to reflect on all the wonderful things and people we have in our life. [...]