property market Tags - Loans Near Me - Find Car Loans, Home Loans & Personal Loans Near You

By business editor Ian Verrender The possibility of younger people breaking into the property market was short-lived during the coronavirus pandemic.(Reuters: David Gray) For a brief, flickering moment, the dream of a generation seemed within reach.

House prices were on the cusp of one of the biggest falls in decades, hit by what was shaping up to be a near-lethal combination of mass unemployment and zero immigration.

After decades of a seemingly unstoppable real estate bubble, the prospect of a sustained fall in housing prices brought a glimmer of hope to those under 35 that home ownership may become a possibility if they could hold on to a job.

Even relatively conservative analysts were forecasting house price declines of 20 per cent and back in May our biggest bank, the Commonwealth Bank of Australia, pencilled in the prospect of a 32 per cent collapse.

Fixed rate home loans are at their lowest ever — but they come with a catch By David Taylor The banks want to lock you in as a customer now for as long as they can.(ABC News: Grant Wignall) Interest rates in Australia have plumbed new depths since the Reserve Bank's monetary policy announcement on Melbourne Cup Day,

It's taken several weeks, but following a number of extraordinary policy measures by the RBA (including a formal adoption of Quantitative Easing), at least one bank has taken the decision to offer a three-year fixed home loan rate of 1.89 per cent.

That's low. In fact, according to interest rate comparison site, Mozo, it's the lowest commercial fixed interest rate (with an 80 per cent Loan to Value Ratio or LVR) the country has ever seen.

Fixed rates are dropping to all-time lows because the banks are desperate for your money. So far the evidence shows they're…