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 [...]
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 [...]
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 [...]
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 [...]
While it’s often said you need a 20% deposit to qualify for a home loan, a significant number of borrowers are securing mortgages with smaller deposits, according to the latest data from APRA, the banking regulator. In the March 2024 quarter, 31.0% of new home loans (by value) had deposits of less than 20%, [...]
The promise of open banking is big; a new, simpler way to share your personal financial data between banks, lenders and financial companies. It started on July 1. Here’s how it works and what it means to take back control of your data to get the best rates and offers. Switching banks has long been [...]
Tungsten Home Loans has outperformed their peers by winning 2 categories at the 2020 Better Business Awards at the Hilton, Brisbane on March 5th. Kicking off the night, THL was awarded the Best Regional Office beating a host of big name finalists, before then also securing Best Regional Broker against a number of Mortgage Brokers [...]
We proudly announce that we are finalists in 2 categories at the 2020 Better Business Awards. Best Regional Broker and Best Regional Office. The winners will be announced at a ceremony at the Hilton in Brisbane on the 5th March. It is a fantastic recognition of our mortgage broking work on both the Gold Coast [...]
