A second major Australian lender is set to make life a little bit easier for investors... Public holiday pours cold water on auction activity...
CBA set to cut investor interest rates
A second major Australian lender is set to make life a little bit easier for investors.
Fairfax Media outlets yesterday reported that the Commonwealth Bank of Australia (CBA) is set announce a number of changes to its loan offering in an attempt to attract customers.
According to the Fairfax report, CBA will on Monday announce 0.4% cuts to interest rates on its “extra home loan" and "extra investment home loan" products.
After the cuts, the loans will carry interest rates of 4.21% and 4.24% respectively.
According to Fairfax, CBA is also set to slash the minimum loan amount for "extra home loan" from $150,000 to $10,000. The product is targeted at existing borrowers who are planning renovations or building work.
Public holiday pours cold water on auction activity
Australia’s auction activity is set to be more subdued this week as the upcoming long weekend brings down volumes in the majority of markets.
According to CoreLogic, just 976 auctions are scheduled across Australia’s capital cities this week, significantly lower than the 2,008 that were held last week.
Over the same week last year, 2,076 auctions were held, however the same public holidays were a week prior las year and 1,201 auctions were held that week.
Last week’s national clearance rate finalised at 68.2%, a slight rise on the previous week’s 67.7%.
With 400 auctions scheduled, Sydney has taken the mantle as the nation’s busiest market from Melbourne this week.
Sydney’s clearance rate for last week finalised at 72.9% from its 692 auctions, the highest mark recorded of any capital city.
(Your Investment Property)
A second major Australian lender is set to make life a little bit easier for investors.
Fairfax Media outlets yesterday reported that the Commonwealth Bank of Australia (CBA) is set announce a number of changes to its loan offering in an attempt to attract customers.
According to the Fairfax report, CBA will on Monday announce 0.4% cuts to interest rates on its “extra home loan" and "extra investment home loan" products.
After the cuts, the loans will carry interest rates of 4.21% and 4.24% respectively.
According to Fairfax, CBA is also set to slash the minimum loan amount for "extra home loan" from $150,000 to $10,000. The product is targeted at existing borrowers who are planning renovations or building work.
Public holiday pours cold water on auction activity
Australia’s auction activity is set to be more subdued this week as the upcoming long weekend brings down volumes in the majority of markets.
According to CoreLogic, just 976 auctions are scheduled across Australia’s capital cities this week, significantly lower than the 2,008 that were held last week.
Over the same week last year, 2,076 auctions were held, however the same public holidays were a week prior las year and 1,201 auctions were held that week.
Last week’s national clearance rate finalised at 68.2%, a slight rise on the previous week’s 67.7%.
With 400 auctions scheduled, Sydney has taken the mantle as the nation’s busiest market from Melbourne this week.
Sydney’s clearance rate for last week finalised at 72.9% from its 692 auctions, the highest mark recorded of any capital city.
(Your Investment Property)
