HomeMate.com.au

The availability of mortgage finance will fall. Less people will be able to buy a home and the values will fall, until they reach levels where they could afford them.
The ability to qualify for a home loan will be made more difficult, so obtaining a mortgage would be harder. This will mean less closings for real estate agents and sellers, and more work for less reward. Again this will impact everyone, from new home buyers to baby boomers moving out of homes to retirement villages, to wealth inherited. Expect Americans’ wealth to shrink over this.
Variable mortgage loans [called adjustable rate mortgages in the US] will mean that mortgage interest rates will fluctuate with the financial markets. The certainty of the 30 year mortgage will die, and so will a lot of people’s desire to own a home.
On top of that variable rate mortgages will not be government guaranteed and this means that the interest rates will be higher.
Canning the 30 year fixed rate mortgage. This will create uncertainty and loss of confidence in the value of homeownership in the US , is it weren’t damaged enough already.

Yes, Nab has had the best rates for a while now, and that has not given them the traction they were looking for, so they have added the “no exist fees” and “we’ll pay your banks exit fees if you switch your home loan to us” to the marketing mix, in an attempt to shake up the market, and change the centre of gravity.

The Reserve Bank board has left the official cash rate unchanged at 4.5 per cent,

As Mr Mortgage predicted earlier, the official cash rate has been left unchanged, with the decision announced moments ago.

I wrote an article about the mistakes I see home buyers and homeowners making that get their loans declined at Mr Mortgage I thought that I should write the article here also as an article.

Kevin Rudd, Australia’s Prime Minister is to announce his mortgage relief plan that will freeze mortgage payments for up to 12 months for financially stressed homeowners.?

Government plans to give banks the ability to collect a full credit profile of mortgage credit applicants your finances profile before you get your mortgage