The hits just keep coming for mortgage holders, with the Reserve Bank of Australia (RBA) today raising the cash rate for a third time this year to 4.35%. If you’re starting to struggle with your mortgage repayments, here’s how you can potentially take action. Today’s 0.25% cash rate increase brings us in line with the 2024 cash rate peak of 4.35% – which was the highest it had climbed to since December 2011. The RBA’s Monetary Policy Board said in a statement that the conflict in the Middle...

There’s no better feeling than living in a brand new home – it’s fresh, clean and it’s all yours. But financing a new-build works very differently from buying an established home. Here’s what you need to know. There’s a lot to love about home ownership, and it’s especially exciting when you’re building a place of your own from scratch. You have the freedom to select your preferred design, personalise the finishes, and then watch as your new home steadily comes to life from the ground up. And...

Having loan pre-approval can be a smart move for home buyers. But the recent Reserve Bank cash rate hikes could leave your pre-approval in need of an update. There’s a lot to love about home loan pre-approval. It shows how much a bank will let you borrow for a home – that’s your ‘borrowing power’. Pre-approval also indicates you’re a serious buyer, providing extra bargaining clout in price negotiations. And while pre-approval typically only lasts for three to six months, that can be...