Hi Everyone! Here are some highlights /observations from last week. - Some banks have marginally increased their 3 and 5 year fixed rates. - Activity in the first home buyer(FHB) market has seen a strong increase especially in the established market, with FHB grant changing to just $3000 after September 15th for established properties. Conversely, many people are looking to secure land and sign contracts post September 15th for the $10,000. - Keeping the $10,000 in mind and those who are building a 2nd home, the builders are going to be very busy going forward and timeframes for completion will start to balloon out. - Will variable rates be at these levels in say 18 months? If you are looking at building, there is a major bank that lets you FIX your rates during the construction process ....especially important for people budgeting at todays rates..... - For those FHB buying after September 15th, keep in mind that you will be $4000 worse off, so when you are looking at funds to complete the transaction, keep in mind that there are a few lenders who let you cap all the lenders mortgage insurance(LMI) if you are borrowing at a 95% level. - Banks are very keen for business at 80% or below with some offering variable rates as low as 4.84%. - We offer FREE valuations( RP Data Reports) so get in touch with us if you are interested (for your own home or one you might be interested in buying). Regards Ben
Posted on: Mon, 26 Aug 2013 05:16:54 +0000
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