I don't remember this is the first good news about buying a house in recent days.

The point is, this is good news:

A number of Australian banks announced that

Reduce fixed and floating mortgage interest rates!

"

Details are as follows:

1. NAB, the national bank of Australia, lowered the 2-year fixed loan interest rate by 20 percentage points, and the lowered interest rate was 3.59%.

At the same time, NAB also provided A $2,000 subsidy for new loans exceeding A $250,000.

2. Bankwest, a subsidiary of the Commonwealth Bank of Australia CBA, initially lowered the three-year fixed loan interest rate by 50 percentage points, but later raised it by 16 percentage points, which is equivalent to a reduction of 34 percentage points. The current interest rate is 3.48%.

3. BankSA, a subsidiary of Westpac Bank, lowered the interest rates of 2-year and 3-year fixed loans by up to 25 percentage points.

4. St George Bank, another bank under Westpac Bank, also announced that it would provide a discount of 65,438+032 percentage points for new loans, and at the same time increase the loan amount for customers who switched to the floating interest rate of the "Advantage Package".

Westpac will also announce the policy of lowering the loan interest rate in the near future.

5. The Bank of Queensland lowered the interest rates of two-year and three-year fixed loans by up to 365,438+0 percentage points.

After the downward adjustment, the 2-year loan interest rate is 3.44%.

The 3-year loan interest rate is 3.39%.

6.ING (a very popular online bank) lowered the loan interest rates of 20% down payment of more than A $6,543.8+0.5 million and less than A $6,543.8+0.7 percentage point. The lowered interest rate is 3.63%.

The loan interest rate of more than A $654.38+00,000 was lowered to 3.59%.

So many banks have cut interest rates, which means that,

If you take out a loan to buy a house

Interest can save a lot of money!

In addition, Sally Tindal, an expert specializing in interest rates in RateCity.com.au, also said:

Visually, other banks will follow suit

Next, the loan interest rate will be lowered one after another.

Why do banks cut interest rates?

This is because the Australian housing market is beginning to show signs of recovery, as evidenced by the recent sharp increase in the liquidation rate of housing auctions.

In addition, the Australian government and regulators have recently released a series of good news that is beneficial to the housing market.

For example, the Coalition government announced that

Reduce the down payment for the first suite from 20% to 5%.

APRA, Australia's banking regulator, plans not to require banks to evaluate customers' repayment ability at 7% interest rate in the future, so that everyone can borrow more from banks.

In addition, at next Tuesday's meeting, the Federal Reserve Bank of Australia may announce a rate cut.

Moreover, after the Coalition government came to power, the previous intention of the Labor Party to cancel the negative tax deduction was gone, and everyone can still avoid taxes reasonably through the negative tax deduction of real estate. These policies have made everyone full of confidence in the recovery of the Australian real estate market.

Australian economic research consulting company Kaitou macro forecast,

Australian housing prices will soon bottom out.

House prices will start to rise in the first half of next year.

Increase by 3%

It will further increase by 5% at 202 1.

Marcel Thieliant, a senior economist of this institution, said that the current housing prices in Australia have dropped by 9.4% compared with the peak in 20 17. Therefore, the affordability of housing prices has been greatly improved.

If the Reserve Bank of Australia cuts interest rates in the next few months, its affordability will be further improved.

This will be the first time since the financial crisis.

When the house price is the cheapest!

To say the least, even if interest rates are not cut, with the increase of household income in Australia, the affordability of house prices will be the same as the historical average by the end of 20021.

To sum up, what experts mean is,

House prices are not that high anymore.

It will bottom out soon.

At that time, more and more people may buy houses. Of course, banks want to take the opportunity to attract more loan customers, so they will lower the loan interest rate one after another.

Judging from the attitude of experts and banks, it seems that the winter in the Australian housing market has passed and spring is coming.

I don't know if this is a good time to bargain-hunting. ...

Bring you valuable and temperature reading.

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