FINANCE & MORTGAGE

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New Zealand's Property Market Buoyant

Residential property prices in New Zealand have continued to rise in the third quarter of 2012. The national housing median price rose by 6% to NZ$371,000 (US$304,168) during the year to September 2012, according to the Real Estate Institute of New Zealand (REINZ).

Westpac Reclassifies $28.8 Billion Mortgages

Westpac Bank (ASX: WBC), in a filing with the Australian Stock Exchange, said that it reclassified the allocation of loan purpose between owner-occupied and investment housing to better reflect the purpose of the loan.

Australia's Housing Finance Commitments Picks Up

Australian Bureau of Statistics (ABS) housing finance figures for September 2011 show in trend terms that the number of finance commitments increased for the fifth consecutive month; the September increase was 1.2 percent.

No Exit: Are Loan Exit Fees a Bad Thing?

Mortgage exit fees have drawn a lot of discussion recently, with the Federal Government announcing its plan to legislate against them (one of a range of proposed banking reforms) and the NAB offering to reimburse the exit fees of borrowers who switch to it.

Australia's Banks Cut Down Term Deposit Rates

Australia's small and big banks have cut down the term deposit rates of their bank products, which could discourage consumers from hoarding cash and explore other investment options.

Time To Take Advantage of Low Property Prices

Do not be spooked by gloomy economic forecasts: right now there are great bargains to be had for the canny property investor. A slowing of the Australian economy and a decrease in demand for housing has created a once in a lifetime opportunity for buying solid investments in areas with strong growth drivers.

What Not to Do when Refinancing your Loan

With fixed rate loans dropping to levels below or equal to variable rate loans, there's never been a better time to shop around for a new mortgage. When it comes to changing your mortgage, however, there is a right way and a wrong way to go about it.

Brokers count the costs of consolidation

Compliance costs and lenders’ volume targets are pushing many broker groups into each other’s arms. MPA investigates the do and don’ts of consolidation.

More homeowners seek re-financing

Home owners are still refinancing their mortgages, even as the property market remains flat, the latest Bankwest/MFAA* Home Finance Index has shown. The Home Finance Index, which surveyed more than 1,139 respondents, revealed that one in four (24.7%) had refinanced their loan in the past two years and 14.2 per cent had refinanced in the previous year, an increase on the previous HFI.

Fixed vs. variable: Which home loan to choose?

Amid the cash rate calm and the now little cost difference between the average fixed term home loan interest rate and the average variable interest rate, deciding which type of loan to choose is even more difficult.

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