Home loans buoyant, but investors subdued

Home loans buoyant, but investors subdued Colin Brinsden, AAP Economics and Business Correspondent  Despite ultra-low lending rates, 20 per cent of Australians are estimated as under mortgage stress. The amount of outstanding mortgages in Australia grew by the fastest monthly pace in four years. But economists doubt financial regulators will be too concerned at this stage with investor loans still relatively subdued. New figures from the Reserve Bank of Australia showed housing credit grew by 0.6 per cent in May, the largest rise since June 2017. Annual growth now stands at 4.8 per cent, its highest since 2018. Owner-occupier loans rose 0.7 per cent in the month to 6.6 per cent, also the highest year rate since 2018. However, growth in loans to housing investors remained relatively modest, rising 0.4 per cent in May to 1.6 per cent. …
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Old home loans costing Aussies

Old home loans costing Aussies 'thousands' by not switching By Stuart Marsh • Senior Producer Australians with older home loans are missing out on thousands of dollars in savings, a new report has found. The Australian Competition and Consumer Commission (ACCC) today submitted its final report into the Home Loan price inquiry. It found that borrowers are potentially spending far more money than they need to by not seeking a lower rate from their existing lender or switching to a new lender. The Australian Competition and Consumer Commission (ACCC) today submitted its final report into the Home Loan price inquiry. (Supplied) "A significant number of Australian home loan borrowers have not switched lenders for several years, yet they stand to save so much money by doing so," ACCC Chair Rod Sims said. "There are factors standing in the way of home loan borrowers switching lenders, such as a lack of clear and transparent pricing, as well as inconvenience …
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