By Brad Smith on Tuesday, April 28, 2009 3:53 PM

Currently, only people with mortgages of less than $312,400 are able to negotiate 'repayment holidays' to assist the recently unemployed, but there are reports today that the federal government is looking to broaden the reach of the benefits by increasing the minimum mortgage size to $500,000. Read More »

By Brad Smith on Friday, April 24, 2009 11:44 AM

Following on from yesterday’s comments by Prime Minister Kevin Rudd that the 1st Home Owners’ Boost would come to an end on June 30, there are fresh reports this morning that the scheme may continue beyond that date after all. Sydney’s Daily Telegraph newspaper has reported that the federal government will extend the scheme in the upcoming May Budget according to “insiders”, although Rudd continues to hose down this speculation Read More »

By Brad Smith on Thursday, April 23, 2009 2:51 PM

Prime Minister Kevin Rudd appeared today to settle the recent debate on whether or not his government would look to cash in on the popularity and success of the 1st Home Owners’ Boost payments by declaring that this would indeed come to an end as initially planned on June 30th 2009. The national scheme, introduced in October 2008 as an extension to the State Governments’ First Home Owners’ Grant payments, sees first home buyers building a new dwelling receiving a cash boost of $21,000 (in total) and those purchasing an existing dwelling receiving a total of $14,000. Read More »

By Brad Smith on Tuesday, April 21, 2009 5:14 PM

Following on from the controversial decision earlier this month by the major lenders not to pass on the RBA 0.25% rate cut in full on their variable rate home loans, comes the astonishing news that they are now actually increasing interest rates on most of their fixed rate home loans. Read More »

By Brad Smith on Thursday, April 16, 2009 10:22 AM

Some positive news for Australian home owners despite concerns around falling house prices, with a key RBA official stating that our strong financial regulatory framework ensures that few borrowers in this country will face negative equity if property prices were to fall. Read More »

By Brad Smith on Tuesday, April 07, 2009 3:01 PM

The RBA has just announced that it will cut the official cash rate by 25 basis points to 3.00%, taking rates to their lowest level in nearly 50 years. This latest cut takes the tally to 425 points (or 4.25%) that the RBA have stripped from rates since September 2008 in their efforts to fight the current economic downturn. Read More »

By Brad Smith on Friday, April 03, 2009 11:21 AM

Some breaking good news for consumers this morning with the High Court's challenge to the Federal Government's $900 cash payments rejected. The High Court decision, handed down by chief justice Robert French after being presided over by a full bench of 7 judges means that $7.7 billion will be transferred to consumers from this coming Monday in order to "immediately support jobs and strengthen the Australian economy during a severe global recession" according to Treasurer Wayne Swan (as reported in today's Sydney Morning Herald). Read More »